HBL Power came out with very good q2 fy 24 numbers. It has now posted two back to back good quarters. Going ahead, traction should continue with more revenues coming from higher margin segments of railways, defence etc. Half year EPS is 4.35 per share.
On charts, the high of the week prior to the results week was 299 and high of the day prior to results was 295. After results stock price opened with a huge gap up at 325, hit a high of 332 and has been consolidating. Currently it is trying to take support in the gap up area above 299. On the charts we can see an upward sloping channel from where stock price faced resistance. Gap up area is marked in dotted lines.
disc: invested.
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