HPL Electric and Power shines on bagging orders worth Rs 204 crore
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HPL Electric & Power is currently trading at Rs. 95.88, up by 6.03 points or 6.71% from its previous closing of Rs. 89.85 on the BSE.
The scrip opened at Rs. 89.00 and has touched a high and low of Rs. 99.05 and Rs. 89.00 respectively. So far 49559 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. 99.05 and Rs. 89.00 respectively. The current market cap of the company is Rs. 621.66 crore.
The promoters holding in the company stood at 72.66%, while Institutions and Non-Institutions held 0.33% and 27.01% respectively.
HPL Electric and Power (HPL) has won smart meter orders worth Rs 204 crore (Rs 179.45 crore net of tax) from customers with a pan-India presence. With a robust pipeline of pending orders, the company has been operating and supplying at an accelerated pace aligning with the roll-out of government-led schemes for smart metering.
The company's strategic focus on the smart meter sector is yielding positive results, with a noticeable upsurge in demand. This success can be attributed to the government's initiatives and the nationwide adoption of smart metering technologies. The company currently has an order book of over Rs 1500 crore.
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.
