India's HPL Electric rises on Q1 profit surge

HPL Electric & Power

02/08/2024 07:45

** Shares of HPL Electric & Power  HPLE.NS  climb as much as
4.2%, last up 2.1% to 613.3 rupees
    ** Home appliance-maker's Q1 profit surged 2.5X YoY
    ** Stock on track to rise in five out of six straight
sessions if trend holds
    ** Rivals Polycab India  POLC.NS  and Orient Electric
 ONTE.NS  posted Q1 profit drops, Havells India  HVEL.NS  missed
profit estimates
    ** HPLE up 2.5X YTD; POLC, HVEL and ONTE up between ~22% and
~37%

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))