HPL Electric Stock Gains Over 9% On Smart Meter Orders Worth Rs 370 Crore

HPL Electric Power Ltd.'s share price jumped over 9% on Thursday to a one-week high after the company secured orders worth Rs 370 crore.

The company will supply smart meters to its regular leading customers.

The order book as of December 2024 stood at Rs 3,400 crore. Metering, systems and services contributes more than 95% of the order book, with smart meters comprising of more than 99% of these orders, as per an investor presentation.

HPL Electric is an electrical equipment manufacturer in India, with significant presence across five key product verticals of electric equipment – metering solutions, modular switches, switchgears, LED lighting and wires and cables. It claims to have 20% market share in domestic electric meters market.

The company caters to a wide spectrum of customer segments, such as power utilities, government agencies, and retail and institutional customers, with a strong brand recall as a trusted electrical brand.

HPL Electric share price advanced 9.6% intraday to Rs 404.7 apiece. The scrip was trading 8.85% higher by 1:40 p.m. The benchmark NSE Nifty 50 was down 0.1%.

The stock has risen 38% in the last 12 months and fallen 26% on a year-to-date basis. The relative strength index was at 48.