Shares of HPL Electric that were trading flat since the market opened on Wednesday bumped up sharply after the company announced bagging the massive order.
What Happened: On Wednesday, the electrical equipment manufacturer announced bagging ₹545 crore orders from various clients. The orders are for smart meters.
With a market cap of around ₹1,400 crore, the micro-cap stock manufactures a diverse portfolio of electric equipment, including metering solutions, switchgear, lighting equipment and wires and cables, catering to consumer and institutional customers in the electrical equipment industry.
Shares of the company shot up sharply to hit the upper circuit on Wednesday as soon as the announcement was made at around 12:00 am. The stock has been on a strong bull in the last few months. In the last six months, the stock has surged up over 110%.
Price Action: HPL Electric’s share price was locked in 10% upper circuit at ₹220.90 on Wednesday afternoon.
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