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Shares of HPL Electric and Power Ltd. gained nearly 6 percent in intraday trade on Friday after the company announced that it won an order worth Rs 161 crore from a leading private power utility major.

The electrical equipment manufacturing company bagged an order from a leading private DISCOM for the supply of smart meters.

HPL Electric said that with this order the company’s metering order book has expanded and surpassed the Rs 600 crore mark as on December 29, 2022.

The new order further bolsters the small-cap company’s market position and reputation as a dominant player in the industry of smart meters and advanced meter solutions.

Earlier this month, HPL Electric and Power announced securing its first set of formal orders for supplying 5G electric products to top telecom services providers.

Shares of HPL Electric and Power Ltd. ended 5.64 percent higher at Rs 100.20 on Friday.

(Edited by : Rukmani Krishna)