HBL Power Systems shares rose 2.5% in early trade on winning a contract from Ashoka Buildcon worth Rs 135 crore.
HBL Power Systems has agreed with Ashoka Buildcon Limited (ABL) for the Kavach supply of an EPC contract won by ABL in September 2022.

The ABL contract with East Central Railway worth Rs 220 crores (including GST at 18%) for positioning Kavach and OFC network over 417 km and 60 locomotives between Pradhankhunta in Jharkhand and Deen Dayal Upadhyay station in Uttar Pradesh.

The ABL agreement with HBL is for Rs 135 crore (counting GST of 18 %).
The contract comprises the supply and contracting of all equipment involved in the Kavach system needing RDSO approval to be completed in 18 months.

At 10:22 am, HBL Power Systems was trading at Rs 154.00, up Rs 1.95, or 1.28% on the BSE.
The share moved to a 52-week high of Rs 156.90 on June 21, 2023. It is trading 1.85% below its 52-week high.