HPL Electric and Power soars on bagging orders for supply of 5G electric products to top telecom companies
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HPL Electric & Power is currently trading at Rs. 109.35, up by 0.30 points or 0.28% from its previous closing of Rs. 109.05 on the BSE.
The scrip opened at Rs. 110.95 and has touched a high and low of Rs. 113.85 and Rs. 107.40 respectively. So far 116845 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 115.50 on 01-Dec-2022 and a 52 week low of Rs. 50.80 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 115.50 and Rs. 96.35 respectively. The current market cap of the company is Rs. 702.16 crore.
The promoters holding in the company stood at 72.66%, while Institutions and Non-Institutions held 1.32% and 26.02% respectively.
HPL Electric and Power has received its first set of formal orders for supply of 5G electric products including cable to the top telecom companies. The company sees a significant opportunity to contribute to the development of 5G infrastructure in India and to provide the necessary electrical equipment to the leading telecom providers. The company is heavily focusing on 5G and anticipates that this market will bring in respectable revenues.
The company is amongst a handful of companies which made material contributions to the 4G infrastructure expansion and has supplied wires and cables, and electrical equipment to the leading telecom players. Going forward, 5G holds an immense promise for being a much more significant opportunity. Growth outlook for this segment looks promising and the Company anticipates an additional around Rs 150-200 crore business in the near to medium term from this segment.
HPL Electric and Power is an established electric equipment manufacturing company in India, manufacturing a diverse portfolio of electric equipment, including metering solutions, switchgear, lighting equipment and wires and cables, catering to consumer and institutional customers in the electrical equipment industry.
