New Delhi, March 13 -- HPL Electric & Power, a leading electrical equipment manufacturer in India, saw its shares surge 10% to Rs.404.70 in today's intraday trade, March 13 after securing a major order for the supply of smart meters.

The company informed investors via an exchange filing today, that it has won smart meter orders worth Rs.369.90 crore (inclusive of tax) from its regular leading customers.

The installation of smart meters is gaining momentum under various government initiatives and state utility programs. These devices, integrated into an online monitoring framework, are designed to reduce commercial losses for utilities, enhance revenue, and play a crucial role in power sector reforms.

The company holds a significant mar...