This electrical equipment stock soared 18% intraday, making it a hot equity
HPL Electric and Power hit back-to-back upper circuits making it to All buyer stock
From its beginning price of Rs 73.35, HPL Electric and Power shares rose 18.34 % to its closing price of Rs 89.50. The stock has a 52-week high of Rs 89.50 and a low of Rs 50.80. Currently, the value of the business on the stock market is Rs 498 crore. The volume of the stock on BSE rose by about 18.59 times today. As of this writing, the stock has a price-to-earnings ratio of 16.7 times.
HPL Electric and Power is a well-known company in the electrical equipment industry in India. Their extensive product line includes metering systems, switchgear, lighting equipment, wires and cables, and more. The company has a 50% share of the on-load change-over switch industry. There is a 20% portion of the electric metering products market that it controls. It's the nation's fifth-largest LED manufacturer. Seven factories in Himachal and Haryana are fully equipped and run by the company.
Productivity breaks down as follows: 52% for metering items, 22% for lighting and electronics, 19% for switchgear, and 7% for wires and cables. In terms of revenue, the business-to-business and business-to-consumer markets each contribute more than half.
After rigorous testing at the Central Power Research Institute (CPRI) lab, HPL was awarded one of only a handful of Empanelment Certificates.
Through international shipping agents, the company distributes its high-quality technical products to over 42 countries in Asia, Africa, Europe, the United Kingdom, and the Indian Subcontinent.
In FY23Q1, The top line increased by Rs 296 crore (129%) from the previous quarter. In addition, operating profit for FY23Q1 jumped 283% from Q1 to Q2 to Rs 38 crore.
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