On Friday, the benchmark indices ended the day in the green. BSE Sensex Index is up by 0.77 per cent at a level of 66,060.90. The Sensex also made an all-time high and a 52-week high at a level of 66,159.79.
In the morning, the shares of HPL Electric & Power Ltd were trading steadily without any significant changes. However, at 02:35 PM on July 14, when Chandrayaan 3 was launching, the stock experienced a sudden surge and hit a 10 per cent upper circuit to Rs 213.05 per share from its previous closing of Rs 193.70. The stock also traded at a new 52-week high of Rs 213.05 per share.
HPL Electric & Power Ltd. (HPL), a leading provider of electrical equipment and solutions, announced the successful acquisition of Rs 903 crore (inclusive of Tax) of smart meter orders. These orders further bolster HPL's total pending pipeline order book, now totalling Rs 2250+ crore as of July 04, 2023.
According to the financials, HPL Electric & Power had a market cap of Rs 1,365 crore with a 3-year stock price CAGR of 83 per cent. The company reported positive numbers in both Quarterly Results and annual financial statements. The company is expanding its business and also execution of orders has consistently increased during the last two quarters while being at the forefront of the government scheme rollout for smart metering.
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The net sales increased by per cent to Rs 1,262 crore and net profit skyrocketed by per cent to Rs 30 crore in FY23 over FY22.