HBL Power Systems Shares Jump 6% Post KAVACH Deal

16 Dec 2024 , 12:23 PM

Following the company’s announcement of an order worth Rs 1,522.40 crore from Chittaranjan Locomotive Works (CLW) for the supply, installation, and commissioning of the KAVACH Train Collision Avoidance System (TCAS) equipment in locomotives, HBL Power Systems shares increased 6.2% to an intraday high of Rs 738.65 on the BSE today.

According to the filing, “We would like to inform you that an order worth Rs 1,522.40 crore (plus applicable taxes) has been received from Chittaranjan Locomotive Works for the supply, installation, and commissioning of on-board TCAS (KAVACH) equipment in locomotives.”

The order is anticipated to be finished within a year and includes the installation of KAVACH systems on 2,200 locomotives.

HBL Power Systems’ consolidated net profit for Q2 FY25 increased by 27.1% year over year to Rs 87.26 crore from Rs 68.67 crore in Q2 FY24. However, for the quarter ending September 30, 2024, revenue from operations fell 6.4% to Rs 520.96 crore.

The company’s market capitalization is currently at Rs 19,274 crore after the stock has increased 59% so far in 2024 and 540% over the previous two years.

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