Shares of HPL Electric & Power hit a record high today after the company said it won a Letter of Award for smart meters. The order is valued at Rs 2,000.71 crore. It has been received from HPL Electric's regular leading customers. The company has not shared more details about the order, such as the timeline or location.
Shares of HPL Electric were stuck in the upper circuit of 20% at Rs 562.85 on July 11, 2024. The stock has risen 814% in two years.
HPL Electric stock opened higher at Rs 473.85 against the previous close of Rs 469.05 on BSE. The stock hit a 52 week low of Rs 168.05 on July 12, 2023.
Total 10.14 lakh shares of the firm changed hands amounting to a turnover of Rs 54.59 crore in today’s session. Market cap of the firm rose to Rs 3619 crore on BSE.
In terms of technicals, the relative strength index (RSI) of HPL Electric stands at 57.6, signaling it's trading neither in the overbought nor in the oversold zone. HPL Electric stock has a one-year beta of 1.4, indicating high volatility during the period. HPL Electric shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
HPL Electric & Power Limited is a leading electrical equipment manufacturer with a significant presence across five key product verticals of electric equipment – metering solutions, modular switches, switchgear, LED lighting and wires and cables. It caters to a wide spectrum of industries and exports its finest engineering goods to more than 42 countries.