52-week high alert: This multibagger small-cap company receives order worth Rs 135 crore from Ashoka Buildcon Ltd!
The stock gave multibagger returns of 113.02 per cent from its 52-week low of Rs 74.15 per share.
HBL Power Systems Ltd has 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.
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 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.
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On Tuesday, shares of HBL Power Systems zoomed 3.88 per cent to make a new 52-week high of Rs 157.95 per share. At the closing bell, shares of the company were trading at Rs 156.60 per share, up 3 per cent.
HBL Power reported excellent numbers in its Quarterly Results and annual results. The company has been maintaining a healthy dividend payout of 31.7 per cent with a 5-year CAGR of 40 per cent.
The stock gave multibagger returns of 113.02 per cent from its 52-week low of Rs 74.15 per share. Investors should keep an eye on this small-cap stock.