HBL Engineering shares in focus after winning Rs 762 crore from Central Railway
HBL Engineering shares will be in focus on Tuesday after the company secured five contracts worth Rs 762.56 crore from Central Railway for the provision of Kavach.
With this, the total value of Kavach contracts won by the company this year has reached Rs 3,618 crore.
On Friday, HBL Engineering, in a consortium with Shivakriti International, secured additional orders worth Rs 499.68 crore. This includes Rs 244.68 crore for the provision of Kavach (version 4.0) in the Viramgam-Rajkot-Okha section of Western Railway and Rs 255 crore for the Dholpur-Bina section of North Central Railway.
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HBL Engineering shares technical indicators
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Technically, the stock's relative strength index (RSI) is at 51.4. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. Additionally, the MACD is at -13.3, which is below its center line, this is a bearish indicator.
HBL Engineering shares are trading above their 5-day, 10-day, 20-day, and 30-day simple moving averages (SMAs) but remain below the 50-day, 100-day, 150-day, and 200-day SMAs.
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HBL Engineering shares performance
On Friday, HBL Engineering shares closed at Rs 472.1 on the BSE, up 1.4%, while the benchmark Sensex declined 0.25%. The stock has dropped 25% year-to-date but has surged 425% in the past two years. The company’s market