HPL Electric and Power Shares rose more than 19% on August 26 after the company said it had received an empanelment certificate from the Ministry of Power through its subsidiary Rural Electric Corporation (REC).

“HPL Electric has been approved under Revised Distribution Area Reforms on DBFOT (Design, Build, Finance, Operate and Transfer) basis through tender participation for appointment of Advanced Metering Infrastructure (AMI) Service Provider for Revamped Distribution Sector Reform India Scheme (RDSS),” the electrical equipment manufacturing company said in a regulatory filing.

HPL said it was one of the few players to receive an empanelment certificate after rigorous testing at the Central Electric Power Research Institute (CPRI) laboratory.

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Shares of the company surged 19.41% to Rs 77.50 on BSE.