HFCL rises on receiving contract worth Rs 1770 crore
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HFCL is currently trading at Rs. 81.40, up by 1.15 points or 1.43% from its previous closing of Rs. 80.25 on the BSE.
The scrip opened at Rs. 81.60 and has touched a high and low of Rs. 82.30 and Rs. 81.10 respectively. So far 270249 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. 82.30 and Rs. 76.50 respectively. The current market cap of the company is Rs. 11056.51 crore.
The promoters holding in the company stood at 39.20%, while Institutions and Non-Institutions held 9.30% and 51.49% respectively.
HFCL has received the contract aggregating to Rs 1770 crore from SWSM for providing EPC Services including provision for laying of optical fiber cables, for execution of Rural Water Supply Network in Varanasi Revenue Division in the State of Uttar Pradesh (Project). This will add significantly to the revenue and profitability of the company. The optical fiber cables so laid will also improve Operation & Maintenance of the Network. The Contract value for material and services is Rs 1414 crore and Rs 356 crore is for operation and maintenance services. The aforesaid Project will be executed by the Company with JWIL Infra as a consortium partner.
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.
