Mid-cap engineering stock jumps after THIS order update. Details here

Mid-cap stocks: HBL Engineering Limited shares jumped after the engineering company announced that the firm had received a ₹148.44 crore letter of acceptance (LOA) from Indian Railways, according to the exchange filing on Tuesday, March 4. 

According to the order book update, the Bhopal Division of the West Central Indian Railways has sent a ₹148.44 crore letter of acceptance to the engineering firm for the provision of KAVACH, an automatic train protection system which prevents train collisions and derailments.

“We would like to inform you that a Letter of Acceptance from ‘Bhopal Division of West Central Railway’ has been received in the name of HBL-Shivakriti Consortium for an order worth Rs.148.44 crores (inclusive of GST @ 18%) for provision of KAVACH in BinaItarsi-Jujharpur section, BPL-SHRN section and UP and DN flyover track from Jujharpur to Powarkheda of Bhopal Division Over West Central Railway,” said the company in the BSE filing. 

This order will be for the BinaItarsi-Jujharpur section of the train line, which is estimated to be executed within a time frame of 540 days or nearly 1.47 years.

HBL Engineering Share Price

HBL Engineering shares are trading 3.17 per cent higher at ₹438 on Tuesday’s stock market session, compared to ₹424.55 at the previous market close. The order book update was released during the afternoon session of the Indian stock markets on March 4. 

HBL Engineering shares hit their 52-week high at ₹738.65 on December 16, 2024, while the 52-week low for the stock was at ₹378.95 on March 14, 2024, almost a year ago from the current date.

The engineering and automotive component maker’s market capitalisation was at ₹12,199.35 crore as of Tuesday’s stock market.

HBL Engineering shares have given stock market investors more than 2,800 per cent return on their investment over the last five years. However, the stock has lost nearly 14 per cent in the last one-year period.

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