Multibagger stock below Rs 100: This small-cap company has won an order worth Rs 409.10 crore!

Kiran Shroff / 1-Mar, 2023

/ Categories: , Mindshare

Multibagger stock below Rs 100: This small-cap company has won an order worth Rs 409.10 crore!

The stock gave multibagger returns of 103.85 per cent over the span of 2 years.

Today, shares of HPL Electric & Power Ltd surged 1.51 per cent to Rs 86.84 per share from its previous closing of Rs 85.55. The stock had a 52-week high of Rs 115.50 and a 52-week low of Rs 50.80.

HPL Electric & Power informed the exchanges (BSE & NSE) that it has won a smart meter order worth INR 409.10 crore from an institutional customer in west India. With this order win, HPL has further strengthened its position as a prominent smart meter solution provider in the Indian market. The Company currently has an order book of over Rs. 1200+ crore as of February 27, 2023.

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 & cables.

According to the financials, HPL Electric & Power had a market cap of Rs 551 crore. The company reported positive numbers in both Quarterly Results and annual results. 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.

The stock gave multibagger returns of 103.85 per cent over the span of 2 years. Investors should keep an eye on this Small-Cap consumer discretionary stock.

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