HFCL rises 3.5 per cent on bagging new order

HFCL Limited informed that it has bagged an order from Uttar Pradesh Metro Rail Corporation for Kanpur Metro (Corridor-1 & 2) as well as Agra Metro (Corridor-1) Projects.  

Under these two projects, the company will be setting up telecommunication systems for 32.4 kms of Kanpur Metro and 14 kms of Agra Metro.  The scope of the work includes designing, manufacturing, supplying, installing, testing & commissioning of fibre optic transmission system, telephone system, passenger information display system, uninterrupted power system, etc.  The combined contract value of the project is estimated to be worth Rs 221.16 crore approximately. The project is expected to get completed within the next 33 months i.e. by 2023.   

HFCL Ltd (formerly Himachal Futuristic Communications Limited) is a leading technology enterprise. The company is engaged in manufacturing of high-end transmission and access equipment, optical fibre, optical fibre cables (OFC). It is specialised in setting up modern communication network for telecom service providers, railways, defence, smart city and surveillance projects.  

The shares of the company reacted positively and were up by 3.7 per cent as the markets opened on Thursday. However, later, it lost most of its gains and by 11.25 am, it was trading at a price of Rs 27.00, up by 0.75 per cent from its previous close.

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