HFCL's share price reached a new 52-week high of Rs 100.70 in early trading on January 20 after the firm announced a Rs 623 crore deal to deliver 5G equipment.
HFCL announced that the company has obtained a significant purchase order amounting to Rs 623 crores. The order is for the supply of domestically produced 5G networking equipment, marking a milestone as the first substantial order for such equipment from any Indian company by a telecom service provider.
At around 12.39 PM, HFCL was trading 12.45% higher at Rs 99.55, against the previous close of Rs 88.55 on NSE.
HFCL has been investing in establishing an end-to-end portfolio of 5G networking equipment that alters telcos' access, transport, and last-mile networking requirements, it added.
HFCL's recent order wins demonstrated that 'our strategy of shifting from projects to margin accretive products, launching new products, reaching out to new customers and new geographies is paying off well and will bolster our position even further in 2024,' according to HFCL managing director Mahendra Nahata.
The company is to execute the order by December 2024.
A meeting of the company's board of directors has been rescheduled for February 1 from January 25 to evaluate and approve the unaudited financial statements for the third quarter and nine months ended December 31, 2023.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.