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20-01-2024 09:57 AM | Source: Accord Fintech
HFCL jumps on securing purchase order worth Rs 623 crore

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HFCL is currently trading at Rs. 92.65, up by 4.34 points or 4.91% from its previous closing of Rs. 88.31 on the BSE.

The scrip opened at Rs. 92.65 and has touched a high and low of Rs. 92.65 and Rs. 92.65 respectively. So far 22006 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 96.09 on 20-Jan-2024 and a 52 week low of Rs. 55.75 on 28-Mar-2023.

Last one week high and low of the scrip stood at Rs. 96.09 and Rs. 81.22 respectively. The current market cap of the company is Rs. 12617.49 crore.

The promoters holding in the company stood at 37.84%, while Institutions and Non-Institutions held 12.72% and 49.44% respectively.

HFCL has secured a purchase order of Rs 623 crore for the supply of indigenously manufactured 5G networking equipment. This is first such large order for 5G networking equipment placed on any Indian company by any telecom service provider. This strategic win is a testament to HFCL’s vision of designing and manufacturing high technology telecom equipment in India.

HFCL has been investing in building its end-to-end portfolio of 5G networking equipment which transforms telcos’ access, transport and last-mile networking requirements. The newly secured purchase order underscores HFCL's commitment to providing cutting-edge solutions tailored to the unique needs of the telecom landscape. Moreover, with enormous export market potential, these indigenously developed products are in line with the country's ‘Make in India for a Global Stage’ vision. HFCL with its strategy is rightly positioned to not only bolster revenue but also enhance profitability leading to increased returns for the shareholders.

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.