Shares of HPL Electric & Power soared by 15% in early trade on July 11 following the announcement of a significant order win for smart meters.
The company disclosed in a filing with the exchanges that it received a Letter of Award valued at Rs 2,000.71 crore from its regular leading customers. While HPL Electric has not provided further details about the order’s timeline or location, the order amount surpasses the previous year’s total order book for the company.
Notably, this order represents about 64% of HPL Electric’s market capitalization, which stands slightly above Rs 3,300 crore.
As of 10:50 AM, shares were trading 15.55% higher at ₹542.00 on the NSE.
