Schneider Electric lights up

Schneider Electric Infrastructure is among the top five gainers on the BSE, opening 7% higher at Rs.125.60 and rising up to an intraday high at Rs.133.25, going up over 13.5%.

This stock, along with HPL Electric and Genus Power are up in the green after the Power Ministry last week advised all central ministries and departments to switch to pre-paid smart electricity meters on a priority basis.

All power consumers, besides the agricultural users, would be given access to electricity if they have these meters which comes with a prepayment feature.

The ministry has proposed to install 10 crore prepaid smart meters by December 2023 in the first phase under the Revamped Reforms-Based Results-Linked Scheme.