HFCL bags purchase order from L&T

HFCL announced that it has received a purchase order worth Rs 196 crore from Larsen & Toubro Ltd (L&T) for the supply of Optical Fibre Cables (OFC) for the construction of Telangana Fibre Grid by L&T.

Earlier this year, the company commissioned its optical fibre manufacturing facility in the state of Telangana with a capacity of 6.40m fkm p.a. which is designed to scale up to 9.60m fkm p.a. in future.

The new order of Rs 196 crore, adds to the company's total order book which stood at Rs 8,621 crore as on December 31, 2020, with orders spread across all business verticals such as telecom, defence, railway, OFC turnkey and manufacturing, smart cities and private operators.

The project falls under Bharat Net Phase 2 programme of the GOI in the state of Telangana. Bharat Net Programme, one of the pillars of Digital India Program, envisages to connect and provide broadband connectivity at around 2,50,500 Gram Panchayats in the country.

Himachal Futuristic Communications Ltd (HFCL) operates as a designer, manufacturer, assembler and seller of telecommunication equipment.

At 9.30 am on Wednesday, the stock was trading at Rs 13.02, up by 2.44 per cent or Rs 0.31 per share. The 52-week high is recorded at Rs 25.30 and the 52-week low is Rs 11.91 on BSE.