HBL Engineering Ltd.HBLENGINE₹569.05 +12.34%

HBL Power Systems surged on Tuesday post its announcement that it has received approval from the Research Designs and Standards Organisation (RDSO) for Version 4.0 of the Kavach System, a key railway safety technology. The approval makes HBL the first company in India to be certified for the latest version of the Kavach system.

With the certification in place, HBL can now begin deliveries of Kavach 4.0 systems against its accumulated order book of ₹3,763.83 crore, which it plans to execute over the next 24 months.

Kavach, an indigenously developed automatic train protection system, is a critical safety solution designed to prevent signal passing at danger (SPAD), overspeeding, and collisions. The Version 4.0 upgrade is expected to bring enhanced reliability and advanced features aligned with the Indian Railways’ modernization goals.

This approval marks a significant milestone for HBL and strengthens its position in India’s growing railway safety and automation segment.

This stock has given multibagger returns of more than 700% over the past three years. Let’s take a look at its Factor Analysis scores below: 

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