HBL Engineering shares jumps after bagging Rs 1,522-crore order
The value of the order is Rs 1,522.4 crore, excluding applicable taxes.
Shares of HBL Engineering Ltd gained as much as 6% on Monday, December 16, after it bagged an order from the Chittaranjan Locomotive Works. In an exchange filing, HBL Engineering said it won an order for the supply, installation, and commissioning of an on-board Train Collision Avoidance System (TCAS) also known as KAVACH. The said order is for the installation of this system in 2,200 locomotives and has to be completed within 12 months from the date of issue of the purchase order.
The value of the order is Rs 1,522.4 crore, excluding applicable taxes. Shares of HBL Engineering are up 3.7% on Monday at Rs 720.55. The stock is trading at a record high.
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HBL Engineering is one of the few railway companies involved in the KAVACH orders for the Indian Railways, with other companies like KEC International, Kernex Microsystems, RailTel, and Siemens also on the list.
Kernex Microsystems was awarded a KAVACH order last week worth over Rs 2,000 crore, which was greater than its overall market capitalization. The total estimated order opportunity for KAVACH and LTE combined is worth Rs 30,000 crore.
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