Clocked 52-week high: This automobile company stock touched the upper circuit!
Shares of this company have gained over 13 per cent in just three sessions of June.
HBL Power System’s share surged over 10 per cent to hit their fresh 52-week high of Rs 123.70. Market participants hope that after the Odisha accident, the government will prioritize contracts to deploy the Kavach system which will be a boost for this company as HBL power is among the major companies that provide transport-related equipment and services.
Kavach has been designed to assist locomotive pilots in avoiding Signal Passing At Danger (SPAD) and over-speeding while also providing support for train operations during adverse weather conditions such as dense fog. By automatically applying brakes when necessary, the system ensures better control over train speed and prevents potential accidents.
Shares of HBL Power Systems have gained over 13 per cent in just three sessions of June. As Mint reports, quoting a railway official, New Delhi Indian Railways would fast-track plans to implement Kavach, an advanced protection technology, alongside block signaling and centralized traffic control systems on busy routes.
This comes in the wake of Friday's (June 2) gruesome train accident in Balasore district, Odisha, involving the Bengaluru-Howrah Superfast Express, the Shalimar-Chennai Central Coromandel Express, and a goods train.
HBL Power Systems is the pioneer in the design, development and manufacture of specialized batteries and DC systems in India. It has more than 30 years of experience in the field of specialized batteries and DC power systems. The company is the result of a merger between Hyderabad Batteries (1977) and SABNIFE Power Systems (1986).
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