This Small-cap company received orders worth Rs 161.59 crore; shares surged by more than 6 %.
The company is leading electrical equipment manufacturer in India with an experience of over 40 years.
The previous day’s close of the shares was at Rs 95.05. On Friday, the shares opened at Rs 95.30 and made the day high at Rs 102.55 a piece.
A sizable order for Rs 161.59 crore has been placed with HPL Electric and Power for the provision of smart metres for a prominent private DISCOM player. This victory highlights the firm's commanding market position in the smart metering industry and strengthens its standing as a reliable provider of sophisticated metre solutions. Additionally, as of December 29, 2022, this new order has increased the company's metering order book to exceed Rs 600 crore.
With this victory, the business increased its market share in the market for smart metres, elevating it to the status of a peer vendor in a cutthroat industry. This significant purchase also portends further, healthy growth over the ensuing quarters.
HPL Electric & Power Limited is a leading electrical equipment manufacturer in India operating for the past 40 years. The company is well-established in five important electric equipment product verticals: metering systems, modular switches, switchgears, LED lights and wires & cables. With a high brand memory as a reliable electrical brand, it serves a diverse range of consumer sectors, including electricity utilities, government organisations and retail and institutional customers. Through its international logistic partners, it delivers its best engineering products to more than 42 nations on the continents of Asia, Africa, Europe, the United Kingdom and India.
The 52-week high of the stock is Rs 115.50 whereas the 52-week low was at Rs 50.80.
The market cap of the company is Rs 644.93 crore.
Promoters of the company are holding 72.66 % stake of the company whereas the Institutional and Non-Institutional holdings are 1.32 % and 26.03 % stake respectively.
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