HBL Power soars 8%, hits new high on healthy outlook; up 208% in 6 months

CARE Ratings expects total operational income of HBL to grow over 25% YoY (backed by strong demand) in FY24 along with sustaining its operating margins.

Shares of HBL Power Systems hit a record high of Rs 309.80, as they rallied 8 per cent on the BSE in Wednesday’s intra-day trade on healthy business outlook. The stock of auto components & equipments company surpassed its previous high of Rs 294.90 touched on August 24, 2023.

In past six months, the stock price of HBL Power has zoomed 208 per cent, as compared to nearly 11 per cent rise in the S&P BSE Sensex.

The principal activities of the HBL Power comprise of manufacturing of different types of batteries including lead acid, nicad, silver zinc,