HPL Electric and Power jumps on entering into strategic partnership with Wirepas Oy
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HPL Electric & Power is currently trading at Rs. 221.50, up by 4.45 points or 2.05% from its previous closing of Rs. 217.05 on the BSE.
The scrip opened at Rs. 208.45 and has touched a high and low of Rs. 227.00 and Rs. 206.20 respectively. So far 59376 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 269.55 on 06-Sep-2023 and a 52 week low of Rs. 66.35 on 28-Sep-2022.
Last one week high and low of the scrip stood at Rs. 243.00 and Rs. 206.20 respectively. The current market cap of the company is Rs. 1433.90 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 and Power has entered into a strategic partnership with Wirepas Oy, a global leader in RF mesh technology. This exciting collaboration is poised to reshape the landscape of smart metering in India, marking a remarkable milestone in the industry. The Indian smart metering market, with a staggering 250 million metering points, is on the cusp of exponential growth.
HPL Electric and Power’s recent announcement of smart meter orders valued under World Bank Funding of Rs 416.84 crore in May 2023 underscores the immense potential of this market. These orders align with state-led schemes like the Revamped Distribution Sector Scheme (RDSS), reflecting HPL's strategic focus on the smart meter sector and its ability to meet growing demand. With an order book exceeding Rs 2000 crore, HPL's commitment to high-volume manufacturing and utility solutions in India is unquestionable.
