A big development for some of the companies in the power sector. Know why Schneider Electric infrastructure Limited. HPL Electric & Power Limited and Genus Power infrastructure Limited are likely to gain? The companies that are likely to gin from this include Schneider Electric, HPL Electric, and Genus Power.
The Government intends to install at least 10 cr smart meters by 2023 in Phase-1. The Government is preparing to invite Expression of Interests with regards to the same.
On 30 June, the Cabinet approved a Rs 3 lakh crore package for the "Revamp Distribution Scheme". The developments with regards to this are very important and the Government is planning to install at least 10 cr smart meters by 2023 in Phase 1. The Government is working towards beating that timeline. Now only 25 lakh smart meters have been installed.
IN the second phase, there are plans to install another 15 cr meters.
The government has sent a detailed note to the states and union territories. the states are likely to get big incentives if they meet the timelines.
The above three companies are likely to have significant participation.
REC Limited and Power Finance Corporation Limited have been appointed as nodal agencies to implement the plan, the Executive Editor said.
These three companies should be on the radar of the investors.
TOP stocks to Buy- Schneider Electric- This stock was up almost 8% when the news broke and was trading at Rs 135.80
TOP Stocks to Buy- HPL Electric was up almost 5% around this time and was trading at Rs 83.80
TOP stocks to buy - Genus Power was up 7.7% and was trading at Rs 76.20
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