HBL Eng under pressure

HBL Engineering shares were under sharp pressure on Friday, January 16, 2026, sliding as much as 13.73% to an intraday low of Rs. 757.70, its lowest level since December 18, 2025, as the stock resumed its declining streak after a one-day pause. The counter has been trading under pressure since January 8, though it remains up 44.05% over the last 12 months, outperforming the Nifty 50’s, 10.87% gain over the same period.

The weakness followed the company’s clarification that it did not receive any order in the tender process for CLW loco KAVACH, a tender that was for 6,300 loco units, which the market had been watching closely as a key near-term driver for the railway safety business. In the same update, HBL said the total orders are now estimated at 12,129 loco units for the ongoing financial year, lower than the earlier estimate of 18,429 loco units, indicating a softer visible pipeline than previously anticipated.

The company has pegged FY26 KAVACH sales at around Rs. 1,880 crore, while also stating it has Rs. 900 crore of orders in hand scheduled to be invoiced in the next financial year; for FY27, HBL expects KAVACH sales of about Rs. 1,000 crore from loco units and Rs. 900 crore from stations, offering some forward visibility despite the near-term tender miss.