HPL Electric & Power establishes state-of-the-art ‘R&D center for smart meters; stock up 2%

The company considers it big push for creating Atmanirbhar' India in smart technology.

Oct 22, 2020 01:10 IST India Infoline News Service

In a big push to make India 'Atmanirbhar' in Smart Meter technology, HPL Electric & Power has established a new state of the art R&D center. The new R&D center for smart meters aims to incorporate the recent advancements in smart technologies and materials for the development of new generations of smart metering products.

HPL Electric & Power Ltd is currently trading at Rs30 up by Rs0.6 or 2.04% from its previous closing of Rs29.40 on the BSE.
The scrip opened at Rs30 and has touched a high and low of Rs30.10 and Rs29.80 respectively. 

In a regulatory filing on Thursday, the company said, HPL Electric & Power is one of India’s leading electrical equipment manufacturer, with sizable presence in meters and smart meters segment. The R&D center is located at the HPL’s manufacturing facility at Gurugram, Haryana. With this investment in developing next generation of smart meter technology, HPL aims to widen its smart meter portfolio, and further strengthen its market penetration domestically as well as internationally.

Mr. Gautam Seth, Joint Managing Director, HPL Electric & Power Limited, said: "We are very much focused on enhancing our smart meter technological base and become the market leader in the segment. With an aim to make technology a key pillar for future growth, we are investing in R&D to develop next generation smart technology to meet the future requirements with best-in-class metering solutions."

Over 200 engineers will be working at the R&D center, conducting advanced research in developing solutions for smart meters technology, other meterign solutions and communication technology. With a solution-based approach, HPL is aiming to bring in advanced IoT and AI-enabled smart solutions and products for the Indian and international markets.

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