Will HFCL hit second consecutive upper circuit today? Know why it can!

The stock was locked at an upper circuit and closed at Rs 75.85 on NSE

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

The company has state-of-the-art optical fibre and optical fibre cable manufacturing facilities at Hyderabad, an optical fibre cable manufacturing plant in Goa and in its subsidiary i.e. HTL Limited at Chennai along with FRP rods manufacturing facility in its subsidiary at Hosur. It also has a telecom equipment manufacturing facility at Solan.   

The company's in-house Centre for Excellence in Research is located at Gurgaon & Bengaluru along with invested R&D houses and other collaborators at different locations in India & abroad with an innovated futuristic range of technology products & solutions. Some of the newly developed products through R&D are wi-fi systems, unlicenced band radios, switches, electronic fuses, electro-optic devices, cloud management systems and video management systems.   

The stock was locked at an upper circuit and closed at Rs 75.85 on NSE. However, post-market, the company made an announcement that it has bagged an order amounting to Rs 287.96 crore. The order has been provided by RailTel Corporation of India Limited, a Miniratna (Category-I) central public sector undertaking (CPSU) of Ministry of Railways for setting up of secured optical packet-switched network for defence forces. The secured optical packet-switched network shall enhance the security of applications and provide the latest state-of-the-art technology, which will drive the security requirement of defence forces.  

The order book of the company, as per the investor presentation released by the company, stood at Rs 5,884 crore, which includes O&M contracts worth Rs 1,436 crore.   

The stock could be in the limelight today and hence, keep a close watch on this stock.