Electric equipment manufacturing company HPL Electric and Power has announced that it bagged its first set of formal orders for supplying 5G electric products to top telecom services providers.
The company will provide the necessary electrical equipment for the purpose of rolling out the 5G network to the country’s leading telecom companies.
With a significant focus on adding to the country’s 5G infrastructure, HPL Electric holds a promising growth outlook for the segment and pegs a business of approximately Rs 150-200 crore in size over the near to medium term from the 5G sector.
The company’s release mentioned an Ericsson-Arthur D Little study which states that 5G will help Indian mobile service providers in generating $17 billion in incremental revenue from enterprises by 2030.
HPL Electric has been a major supplier of 4G rollouts and has been picked as a ‘vendor of choice’ for multiple 5G projects.
Shares of HPL Electric and Power ended 0.18 percent higher at Rs 109.25 on Monday.
