This Small Cap Electrical Equipment Entity Hits 52-Week High; Sentiment Strong

HBL Power Systems, part of the S&P BSE small cap index in trade on Wednesday hit a 52-week high of Rs. 97.7 per share. The stock settled with gains of over 14% at Rs. 95 per share on the NSE.

There is seen breakout of the contraction pattern with huge volumes in the volumes. Overall the sentiment in the stock is bullish.

The company in its board meet held on May 26 has recommended a dividend of 40% (ie 0.40 paise on each paid-up share of Rupee One) for the year 2021-22, subject to approval of members at the Annual General Meeting.

On a standalone basis, the company's revenue from operation surged to Rs. 376.57 crore. Also, net profit at the company more than trebled on a YoY basis to Rs. 34.15 crore.

HBL Power Systems Limited is focused on engineered products and services. The Company is engaged in the design, development and manufacturing of specialized batteries and direct current systems in India and other engineering products.