Upper circuit alert: This multibagger electrical equipment manufacturer bags orders worth Rs 416.84 crore; World Bank to fund the project!

Shares of the company gained more than 120 per cent in the last six months.

On August 08, 2023, HPL Electric & Power Limited informed in the exchange filing that the company has an agreement with West Bengal State Electricity Distribution Company Limited (WBSEDCL) for the deployment of an Advanced Metering Infrastructure (AMI) project, supported by the World Bank. The AMI project will be funded by the World Bank and will be executed in coordination with WBSEDCL. The initiative will encompass the installation of smart meters across residential, commercial, and industrial sectors, enabling real-time data transmission, consumption monitoring, and accurate billing.

The company has marked its entry in direct Advanced Metering Infrastructure Service Provider (AMISP). The order is going to connect approx. 5 lac consumers in Kolkata and the gross value of this project is Rs 416.84 crores.

HPL Electric & Power Limited is a leading electrical equipment manufacturer in India operating for the past 40 years. The company has a significant presence across five key product verticals of electric equipment – metering solutions, modular switches, switchgear, LED lighting, and wires and cables.

Today, the stock opened at Rs 208.65, with a high and low of Rs 216.05 and Rs 201.20. The stock previously closed at Rs 205.80. The stock is currently trading at Rs 216.05, up by 4.98 per cent.

The company has more than Rs 1,500 crore worth of order book. The shares of the company have delivered multibagger returns of over 230 per cent in the last one year.

Investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.