4000% rally in five years: Multibagger stock jumps 5% on bagging Kavach orders from Indian Railways
HBL Engineering share price jumped 5% in early trade on Monday after the company received multiple orders from Indian Railways. The multibagger stock, HBL Engineering shares rallied as much as 5.04% to ₹ 619.75 apiece on the BSE.
HBL Engineering announced over the weekend that the company has received letters of acceptance (LoA) from South Central Railway for two projects.
Firstly, the South Central Railway issued letter of acceptances to HBL Engineering for provision of the Kavach across 48 stations covering 446 kilometers of track and 10 locomotives in Vijayawada — Ballarshah section. The contract has to be completed within 18 months, HBL Engineering said in a regulatory filing on June 14.
The total value of the contract is ₹ 132.95 crore (inclusive of 18% GST), it added.
Additionally, the South Central Railway has also issued LoA to the company for upgradation of the Kavach Version 3.2 to Version 4.0 in Mudkhed (including) - Section covering 350 Kms. The contract has to be completed within 24 months and the total value of the contract is ₹ 30.67 crore (inclusive of 18% GST), the company said in an exchange filing on June 15.
HBL Engineering said its total accumulated order book is ₹ 4,029.05 crore.
HBL Engineering share price has surged 45% over the past three months, despite being down 5% on a year-to-date (YTD) basis. On a one-year basis, the stock has gained 26%. Notably, HBL Engineering share price has delivered multibagger returns of 316% over the past two years and has soared an impressive 4,000% in the last five years.
At 10:00 AM, HBL Engineering share price was trading 1.90% higher at ₹ 601.20 apiece on the BSE, with a market capitalisation of over ₹ 16,662 crore.
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