HPL Electric Shares Jump Over 18% To Five-Year High On Smart Meter Order

Shares of HPL Electric & Power Ltd. jumped over 18% to a five-year high on Tuesday after it received a Rs 903 crore order for smart meters.

These orders have bolstered HPL's total pending order book to over Rs 2,250 crore, the company said in an exchange filing.

Shares of the company surged 14.48% to Rs 148.20 apiece as of 1.12 pm, compared to a 0.36% advance in the NSE Nifty 50. The scrip rose as much as 18.54% intra-day, the most in over eight months since Oct. 20, 2022.

Total traded volume stood at 5.3 times its 30-day average. The relative strength index was at 82, implying that the stock maybe overbought.