HFCL gains as its arm establishes greenfield facility to manufacture Polymer Compound
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HFCL is currently trading at Rs. 71.20, up by 0.30 points or 0.42% from its previous closing of Rs. 70.90 on the BSE.
The scrip opened at Rs. 70.40 and has touched a high and low of Rs. 71.75 and Rs. 70.00 respectively. So far 143531 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 101.35 on 17-Jan-2022 and a 52 week low of Rs. 51.55 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 76.25 and Rs. 68.65 respectively. The current market cap of the company is Rs. 9768.31 crore.
The promoters holding in the company stood at 39.20%, while Institutions and Non-Institutions held 8.84% and 51.96% respectively.
HFCL’s material subsidiary--HTL has established a state-of-the-art Polymer Compounding facility as backward integration at its Hosur plant in Tamil Nadu for manufacturing of Polyolefin based compounds of various grades and colours which are required as raw material for manufacturing of Optical Fibre Cables.
With an installed capacity of 24,000 MT per annum, this backward integration will ensure seamless availability of various grades of Polymer for the company and HTL’s plants at Goa, Chennai and Hyderabad and also improve profitability being a significant cost component in manufacture of Optical Fibre Cable being supplied in Domestic and Export Markets.
HFCL is a leading telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables, having its own manufacturing facilities at Solan and Goa, and its subsidiary i.e. HTL facilities in Chennai and Hosur.
