Power sector measures in Union Budget 2020 to push growth across sector
Mr. Gautam Seth, Joint-Managing Director, HPL & Electric Power Ltd's reaction to Union Budget 2020.
The annual budget announced by the FM has given special impetus to the power and infrastructure sector and allocating Rs 22,000 crore for renewable and power sector is going to push for faster development and growth across sector. The announcement made by FM to replace energy meters with pre-paid smart meters will further help in complete digitization of the whole system and will help in bring about more financially healthier utilities. The FM has urged state governments to implement smart meters in the next three years and HPL being one of the leading manufacturer of smart meters sees this as a huge opportunity. In addition, the implementation of five Smart city projects in PPP mode will give more opportunities to the private companies.
HPL Electric and Power Ltd (HPL) is an established electrical equipment manufacturing company in India, manufacturing a diverse portfolio of electric equipment, including, metering solutions, switchgears, lighting equipment and wires and cables, catering to consumer and institutional customers in the electrical equipment industry. HPL had the largest market share in the market for electricity energy meters in India, with one of the widest portfolios of meters in India and the fifth largest market share for LED lamps during the corresponding period (Source: Frost & Sullivan Report, February 2016). HPL's manufacturing capabilities are supported by a large sales and distribution network with a pan-India presence. HPL currently manufacture and sell its products under the umbrella brand 'HPL', which has been registered in India since 1975.
Shares of HPL Electric & Power Ltd was last trading in BSE at Rs.43.95 as compared to the previous close of Rs. 42.35. The total number of shares traded during the day was 25686 in over 568 trades.
The stock hit an intraday high of Rs. 47 and intraday low of 42.35. The net turnover during the day was Rs. 1154538.