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/PRNewswire/ According to the new market research report "Construction Equipment Market by Type (Excavator-Crawler & Mini, Loader-Backhoe, Skid-steer,.
HPL Electric & Power hit an upper circuit of 5% at Rs 51.45 after the company bagged two orders worth over Rs 372 crore for its switchgear, wires and other related accessories for housing projects in Andhra Pradesh.
These orders were bagged amidst stiff competition from various players. This is a big step by the company to increase its presence in the low-cost affordable housing segment. The current total order book of the company now stands over at Rs 700 crore.
HPL has been a major supplier of electrical equipments to the government infrastructure and private housing sector.
Commenting on winning the orders, Gautam Seth, joint managing director, HPL Electric & Power, said, This is a big win for us and enhances our position as one of the leading electrical equipment manufacturer in the country. We have a diversified portfolio of electrical equipments to cater to various needs of the market.