HPL Electric & Power touches roof on inking pact with West Bengal State Electricity Distribution Company
HPL Electric & Power is currently trading at its upper limit of Rs. 216.05, up by 10.25 points or 4.98% from its previous closing of Rs. 205.80 on the BSE.
The scrip opened at Rs. 208.65 and has touched a high and low of Rs. 216.05 and Rs. 201.20 respectively. So far 183205 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 245.00 on 18-Jul-2023 and a 52 week low of Rs. 57.00 on 12-Aug-2022.
Last one week high and low of the scrip stood at Rs. 220.15 and Rs. 194.50 respectively. The current market cap of the company is Rs. 1389.21 crore.
The promoters holding in the company stood at 72.66%, while Institutions and Non-Institutions held 0.67% and 26.68% respectively.
HPL Electric & Power has signed agreement with West Bengal State Electricity Distribution Company (WBSEDCL) for the deployment of an Advanced Metering Infrastructure (AMI) project, supported by the World Bank. The AMI project will be funded by the World Bank and will be executed in coordination with WBSEDCL, a pivotal player in West Bengal's electricity distribution domain. This initiative will encompass the installation of smart meters across residential, commercial and industrial sectors, enabling real-time data transmission, consumption monitoring and accurate billing.
This marks HPL Electric’s entry as a direct Advanced Metering Infrastructure Service Provider (AMISP). This order is going to connect around 5 lakh consumers in Kolkata and the gross value of this project is Rs 416.84 crore against which LOI was received earlier and already informed.
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.
