Shares of this multibagger company zoomed 4 per cent after receiving an order worth Rs 65.72 crore from Reliance Retail Ltd!

From Rs 10.85 to Rs 65.70, the shares of the company gave multibagger returns of over 500 per cent in just 3 years.

HFCL Ltd informed that the company, along with its material subsidiary, HTL Limited, has received purchase orders aggregating to Rs 65.72 crore from Reliance Retail Limited for the supply of optical fiber cables to one of the leading private telecom operators of the country. The order will be completed by October 2023.   

On Friday, shares of HFCL Ltd zoomed 4.44 per cent to an intraday high of Rs 65.70 per share from its previous closing of Rs 62.91. At, 03:30, shares of the company ended the day in green, up 2.94 per cent to Rs 64.76 per share.   

HFCL Ltd (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).  

HFCL Ltd is a Mid-Cap company and falls under S&P BSE 500 Index with a market cap of Rs 8,922.36 crore. The firm reported positive numbers in its Quarterly Results and annual results. The shares of the company saw a spurt in volume by more than 2.25 times on BSE.  

From Rs 10.85 to Rs 65.70, the shares of the company gave multibagger returns of over 500 per cent in just 3 years. Investors should keep an eye on this mid-cap telecom stock.