This mid-cap company receives order worth Rs 95.38 crore, do you own it?

Today, shares of this company surged 2.65 per cent from their previous closing of Rs 75.60 per share to the day’s high of Rs 777.60.

Today, shares of HFCL Ltd surged 2.65 per cent from their previous closing of Rs 75.60 per share to the day’s high of Rs 77.60. The stock has a 52-week high of Rs 101.35 whereas the 52-week low is Rs 51.55. 

Recently, the company and its material subsidiary, HTL Limited, received an order worth Rs 95.38 crore from Reliance Projects & Property Management Services Limited. The order includes the supply of various types of optical fiber cables as per customer specifications and will be completed by February 2023. 

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). 

The company has overall reported positive results in its financial statements. According to the consolidated annual financial statements, the corporation increased net sales by 6.88 per cent in FY22 over FY21. The net profit in FY21 was Rs 246.24 crore but it increased by 32.27 per cent to Rs 325.70 crore in FY23. HFCL Ltd has a Market cap of Rs 10,415.85 crore with promoters holding 39.20 per cent stake, the public holding 51.36 per cent stake and others holding 9.44 per cent stake. Investors should keep an eye on this stock.