HPL Electric & Power shares surged by 15% in early trading on July 11 after the company announced it had won a major order for smart meters worth ₹2,000.71 crore.
According to a stock exchange filing, the order was received from HPL Electric’s regular top customers. The company did not disclose further details about the order’s timeline or location.
The value of this order exceeds HPL Electric’s total order book for the previous year and accounts for about 64% of the company’s market capitalization, which is just over ₹3,300 crore.
As of 10:20 am, HPL Electric shares were trading at ₹538 on the NSE, up 14.8% from the previous session’s close.
On July 8, HPL Electric announced a memorandum of understanding (MOU) with China-based Guangxi Ramway Technology Co. Ltd. for local manufacturing and assembly of relays in India. This partnership may involve technical collaboration and equipment procurement.
For the March quarter of FY25, HPL Electric reported a net profit of ₹13.72 crore, up 22.3% from the previous year. The company’s consolidated revenue increased by 17% to ₹424.09 crore for the quarter ending March 31, compared to the same period last year.
HPL Electric & Power is a manufacturer of electrical and power distribution equipment, offering products like cables, energy-saving meters, circuit protection switchgear, and CFL & LED lamps.
Over the past year, the company’s shares have more than tripled in value, rising 200%, compared to a 26% increase in the benchmark Nifty 50 index.
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