Multibagger Alert: Beaten Down HFCL outperforms this week

The share price of HFCL soared by ~5 per cent on Thursday even as the stock was locked in the upper circuit on a monthly expiry day for the markets.  HFCL, this week is up by more than 15 per cent while in the past three trading sessions the stock is seen locked in the upper circuit indicating bulls' dominance.  HFCL from its 52 weeks high has slipped by ~35 per cent before the start of the week, thus technically pushing the market in the bear territory.  HFCL in past one month is down by 2.71 per cent while on YTD basis the stock is up by 162 per cent while in one year the stock is up by nearly 300 per cent.  

A positive closing on Thursday has placed HFCL share price above the 30D EMA, thus indicating bullishness in the counter. On Wednesday the stock saw a moving average crossover above 9D MA. On weekly chart the stock is still trading above the 30D EMA. HFCL in recent quarter has declared outstanding results and is currently trading with attractive valuations. The stock is trading with a PE multiple of 28.50 while its PEG ratio stands at 0.23. 

HFCL Ltd 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).