1,950 per cent returns: Heavy buying witnessed in this multibagger small-cap stock; hits 52-week high!
The stock gave multibagger returns of 210 per cent returns in just 2 years and over 1,950 per cent in 1 decade.
On Friday, one of the Top Gainers on BSE, shares of HBL Power Systems zoomed 10 per cent to make a new 52-week high of Rs 168.95 per share from its previous closing of Rs 153.65. At the closing bell, shares of the company were trading at Rs 166.70 per share, up 8.49 per cent with a spurt in volume by more than 3 times on BSE.
HBL Power Systems Ltd is engaged in the manufacturing of different types of batteries and other products. It is also engaged in service activities related to the above products.
Recently, the company entered into a contract with Ashoka Buildcon Ltd (ABL) for the supply of the Kavach part of an EPC contract won by ABL in September 2022. The ABL contract with East Central Railway, is for Rs 220 crore (including GST at 18 per cent) for deploying Kavach and OFC network over 417 km and 60 locomotives, between Pradhankhunta in Jharkhand and Deen Dayal Upadhyay station in Uttar Pradesh.
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The ABL contract with HBL is for Rs 135 crore (including GST of 18 per cent). This includes the supply and commissioning of all equipment involved in the Kavach system requiring RDSO approval. The delivery and commissioning are to be completed in 18 months.
HBL Power reported excellent numbers in its Quarterly Results and annual results. The company has been maintaining a healthy dividend payout of 31.70 per cent with a 5-year CAGR of 40 per cent.
The stock gave multibagger returns of 210 per cent returns in just 2 years and over 1,950 per cent in 1 decade. Investors should keep an eye on this small-cap stock.