HPL Electric and Power Ltd.’s shares fell 2.52 per cent after the company announced an Indian electric equipment manufacturer, has forged an alliance with Wirepas Oy, a global leader in RF mesh technology.

 India’s smart metering market boasts 250 million metering points and stands at the threshold of expansion. HPL Electric and Power Ltd’s recent announcement of smart meter orders valued under World Bank Funding, totalled Rs 416.84 crore in May 2023. These orders align with state-led initiatives like the Revamped Distribution Sector Scheme (RDSS). With an order book exceeding Rs 2,000 crore, HPL’s dedication to high-volume manufacturing and utility solutions in India is resolute.

The shares dropped 2.52 per cent to close at Rs 222.15 on the BSE.