Shares of this electrical equipment manufacturer jumped 18 per cent today; do you have it?
Share price jumped from Rs 73.35 to Rs 89.50.
Shares of HPL Electric and Power increased 18.34 per cent from its opening price of Rs 73.35 to its closing price of Rs 89.50. The 52-week high for the stock is Rs 89.50 and the 52-week low is Rs 50.80. The company's current market cap is 498 crore rupees. The stock's volume on BSE increased by more than 18.59 times today. The stock has a P/E ratio of 16.7 right now.
An established manufacturer of electrical equipment in India, HPL Electric and Power produces a wide range of products for the consumer and institutional markets in the electrical equipment sector, including metering systems, switchgear, lighting equipment, and wires and cables. With a 50 per cent market share, the firm is the biggest producer of on-load change-over switches in the nation. Additionally, it holds a 20 per cent market share in the industry for electric metering products. It ranks as the fifth-largest LED producer in the nation. The company has seven well-equipped manufacturing sites in Himachal and Haryana.
In terms of productivity breakdown: 52 per cent for metering products, 22 per cent for lighting and electronics, 19 per cent for switchgear, and 7 per cent for wires and cables. Both the B2B and B2C segments make up over 50 per cent of the company's total revenue.
HPL is one of the few participants to receive the Empanelment Certificate after being subjected to vigorous testing carried out at the Central Power Research Institute (CPRI) laboratory.
It exports its finest engineering goods to more than 42 countries in regions of Asia, Africa, Europe, the UK and Indian Sub-continent through overseas logistic partners.
The company's FY23 Q1 results were great. The top line went from Rs 129 crore to Rs 296 crore QOQ, an increase of 129 per cent. Additionally, the operating profit increased dramatically Q0Q for FY23Q1 by 283 per cent to Rs 38 crore.