HPL Electric & Power Ltd Share Price – NSE  /  BSE

Capital Goods - Electrical Equipment, Small Cap

HPL Electric & Power will hold a meeting of the Board of Directors of the Company on 1 August 2024.

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The key equity barometers reversed early gains and traded with minor losses in the morning trade. The Nifty traded below the 24,300 level. Pharma shares declined after advancing in the two trading sessions. Trading could be volatile due to weekly F&O series expiry today.

At 10:30 ST, the barometer index, the S&P BSE Sensex, was down 263.96 points or 0.33% to 79,660.81. The Nifty 50 index declined 76.80 points or 0.32% to 24,253.85.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.13% and the S&P BSE Small-Cap index gained 0.34%.

The market breadth was strong. On the BSE, 2,129 shares rose and 1,435 shares fell. A total of 158 shares were unchanged.

Buzzing Index:

The Nifty Pharma index fell 0.78% to 20,564.85. The index added 1.60% in previous two trading sessions.

Glenmark Pharmaceuticals (down 1.56%), Biocon (down 1.05%), Sun Pharmaceuticals Industries (down 1%), Aurobindo Pharma (down 0.98%) and Cipla (down 0.82%), Zydus Lifesciences (down 0.78%), Lupin (down 0.7%), Divis Laboratories (down 0.63%), Ipca Laboratories (down 0.59%) and Abbott India (down 0.38%) edged lower.

On the other hand, Natco Pharma (up 1.52%) ,Gland Pharma (up 1.49%) and Mankind Pharma (up 1.2%) added.

Stocks in Spotlight:

HPL Electric & Power zoomed 16.40% after the company announced that it has received work orders of Rs 2,100.71 crore from its regular leading customers.

GE Power India jumped 6.03% after the company’s board approved to sell its hydro business undertaking to GE Power Electronics and its Gas business to GE Renewable Energy Technologies through slump sale basis.

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The contract is for supplying smart meters in the normal course of business.

The value of the aforementioned contract is nearly 0.70 times the full market capitalization of HPL Electric, which as of previous close stood at Rs 3,016.01 crore.

HPL Electric & Power leading players and India’s fastest growing electrical and power distribution equipment manufacturer with products ranging from industrial and domestic circuit protection switchgears, cables, energy saving meters, CFL & LED lamps.

The company’s consolidated net profit jumped 21.87% to Rs 13.71 crore on a 16.91% increase in revenue to Rs 424.09 crore in Q4 FY24 as compared with Q4 FY23.

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HPL Electric & Power has received order of Rs 2100.71 crore from the company's regular leading customer for the supply of smart meters.

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