India's HBL Engineering rises on bagging Kavach contracts worth $19 million

HBL Engineering

16/06/2025 08:58

** Shares of HBL Engineering HBLO.NS rise 2% to 600.5 rupees apiece

** Over the weekend, the engineering company secures contracts from South Central Railway for the upgradation of Kavach versions in a railway route in Maharashtra and Andhra Pradesh

** Kavach is an automatic train protection system designed to prevent train accidents due to signal malfunctions or human error

** The total value of the two contracts is about 1.64 billion rupees  ($19.07 million)

** Trading volume is 2.7 million shares as of 1:22 p.m. IST, about 1.3 times the 30-day average, data compiled by LSEG shows

** Stock down 5.2% in 2025 so far, underperforming the 2% drop in smallcap 100 index .NIFSMCP100 of which it is a constituent, exchange data shows

($1 = 85.9920 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))