• Wed. Feb 28th, 2024

HBL Power rallies 10%; After nearly 7% of the equity changed hands, it hit a new high

HBL Power rallies 10%;  After nearly 7% of the equity changed hands, it hit a new high
Shares of HBL Power Systems (HBL) rose 10 percent to hit a record high of Rs 132.55 on the BSE in weak intraday trade on Tuesday amid heavy volume. In the past two trading days, the auto components and equipment company’s stock zoomed 18 percent. till 02:50 PM; 19.2 million equity shares representing 6.9 per cent of the total equity of HBL Power changed hands on NSE and BSE. In comparison, the S&P BSE Sensex fell 0.25 percent to 62,615. HBL specializes in developing and manufacturing products and solutions for telecom, industrial, railway and defense applications. The company has seven fully integrated facilities, manufacturing batteries, electronics and engineering products based on in-house developed technologies. Over the years, HBL has established itself as one of the leading players involved in the development and manufacturing of batteries, electronics and engineering products based on in-house developed technologies. The company’s product portfolio mainly caters to telecom, UPS, solar, defense and railway sectors in India. The battery vertical is one of the company’s major revenue spinners after the electronics segment. The company is one of the largest manufacturers of Ni-Cad batteries with a wide range of industrial applications. HBL has also started focusing on electronic and engineering products for defense and railways. In the electronics vertical, the company’s Train Collision Avoidance System (TCAS) continued to gain traction. The company had won a contract from Eastern Railway to deploy over 260 km of TCAS and 120 locomotives on the Delhi-Howrah route in FY23. Also, the team has successfully deployed the TCAS solution across the 347 km network of the South Central Railway. In 2021, Indian Railways announced the adoption of TCAS as India’s national Automatic Train Protection (ATP) system and renamed it KAVACH. This vertical is expected to emerge as the key business and profitability driver in the coming years. Aiming to complete this ambitious project by 2026, the government has also announced plans to deploy 34,368 km of track Kavach covering high density and highly utilized routes. ), another major project of Indian Railways. Railways have decided to equip all new Vande Bharat trains with TCAS at the railway factory itself.

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