Multibagger penny stock under Rs 100: The telecom infrastructure company bags new order worth Rs 623 crore; stock hits new 52-week high!

Shares of the company grew by more than 50 per cent in the last one year.

HFCL Limited, a leading Indian telecom player, has scored a historic Rs 623 crore deal to supply homegrown 5G networking equipment – the first such large order awarded to an Indian company. This significant win marks a major milestone for India's "Make in India" initiative and propels HFCL to the forefront of the country's 5G rollout.

HFCL's commitment to developing cutting-edge solutions aligns perfectly with the booming global 5G market, projected to reach USD 68 billion by 2030. With this order, HFCL not only bolsters its own revenue and profitability but also strengthens India's position as a potential exporter of advanced telecom technology.

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This strategic win highlights HFCL's strong portfolio of 5G networking equipment, catering to the diverse needs of access, transport, and last-mile connectivity. Their dedication to providing tailored solutions for the unique Indian telecom landscape will be crucial in accelerating the nation's 5G adoption.

Overall, HFCL's Rs 623 crore deal signifies a pivotal moment for India's 5G aspirations. It showcases the immense potential of domestic companies like HFCL and paves the way for a future where India not only consumes but also develops and exports cutting-edge 5G technology. The stock also made a 52-week high on Saturday.

HFCL Limited (Himachal Futuristic Communications Limited) is a diverse telecom infrastructure enabler with active interest spanning telecom infrastructure development, system integration, and manufacture and supply of high-end telecom equipment, Optical Fiber and Optic Fiber Cable (OFC). The shares of the company have also delivered multibagger returns of over 220 per cent in the last three years.

The stock has shown tremendous growth and investors should keep a close eye on this penny stock.

Disclaimer: The article is for informational purposes only and not investment advice.