HPL Electric wins INR 545 crore Smart Meter Orders, supporting India's national metering initiative

HPL Electric and Power Ltd., ("HPL", NSE Symbol: HPL, BSE Scrip Code: 540136), a leader in the electrical equipment manufacturing sector in India, has won smart meter orders worth INR. 545 Crore from various prestigious customers in the normal course of business.

This achievement marks a significant stride in HPL's journey, further solidifying its market share in the competitive smart meter arena. The order is indicative of the Company's continued growth trajectory and promising future in the industry. This order is a milestone in HPL's journey and a strong indicator of its promising future in the smart metering industry.

On this notable occasion, Mr. Gautam Seth, Joint Managing Director of HPL, commented: "The receipt of these orders reflects our alignment with the government's ongoing efforts to implement smart meters nationwide. While understanding that this is just one more step in a much broader initiative, it highlights HPL's significant role in this sector. Our high acceptability in terms of performance and quality with leading AMISPs demonstrates HPL's strong positioning in the smart meter market. This achievement is not just a measure of our current standing but also a promising indicator of the potential opportunities that lie ahead in the evolving landscape of smart metering in India."

Shares of HPL Electric & Power Limited was last trading in BSE at Rs. 223.10 as compared to the previous close of Rs. 228.90. The total number of shares traded during the day was 54396 in over 1450 trades.

The stock hit an intraday high of Rs. 234.35 and intraday low of 221.15. The net turnover during the day was Rs. 12413452.00.

Source : Equity Bulls

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