HBL Power Systems is in the limelight today morning. Opening with a gain of 11.5% at Rs.15.10, the stock soon climbed 13% to its current intraday high at Rs.15.30.
Its 52-week high and low stands at Rs.29.75 and Rs.12.50 respectively.
Its 20% UC for the day is at Rs.16.25 and LC at Rs.10.85.
The company, yesterday announced receipt of collective orders to the tune of Rs.155 crore to the Indian Railways and Navy. It also reported export orders worth $3.6 million.
The details of the order:
1. TCAS (Train Collision Avoidance System) Order: The first commercial tenders were finalised by South Central Railway and HBL received the first order for Rs. 70 Crores executable over the next 18 months. Twelve years of efforts made by the company to pioneer the development of this safety critical technology indigenously have come to fruition. Further orders in this new product are expected regularly.
2. Batteries for Submarine propulsion: Orders were received for seven Submarine Propulsion Batteries, approximate value Rs.85 Cr, to be delivered over the next 18 months. This is the first time HBL has been recognised as a source for Submarine Batteries by the Indian Navy and further orders, including exports are likely.
3. Lithium Thermal Batteries: HBL has received export orders of over USD 3.6 million for supply of Lithium Thermal Batteries, to be completed over the next 18 months. These orders are from new customers and are expected to result in continued long term business.