Trending stock below Rs 100: HFCL jumps over 10 per cent; heres why!
Shastri referred to this term while saying, “It is speed. It is something that rockets off your back when you fire a bullet, the speed it goes.”
If you are a true cricket fan, you must have heard the term ‘tracer bullet’ in television commentaries, popularised by Ravi Shastri.
Shastri referred to this term while saying, “It is speed. It is something that rockets off your back when you fire a bullet, the speed it goes.” Similarly, on D-Street there is a stock that moved like a ‘tracer bullet’! The stock of HFCL jumped over 10 per cent with robust volume as it recorded the highest single-day volume since March 31.
Here’s why!
HFCL Limited announced today that it has entered into an agreement with Qualcomm Technologies, Inc. for its design and development of 5G millimetre wave (mmWave) FWA (fixed wireless access) CPE (customer premise equipment) products. In continuation with its 5G product strategy, HFCL is expanding its 5G product portfolio by launching product development of 5G mmWave FWA CPE products for India and global markets.
FWA helps operators with a cost-effective way to deliver fiber-like internet speeds wirelessly over 5G networks. It will enable new business opportunities for mobile operators by allowing them to offer fixed internet broadband services to consumers and enterprises using their 5G network infrastructure. HFCL’s 5G mmWave FWA product portfolio aims to bridge the digital divide and will also enable telcos to successfully deliver broadband internet services in rural, suburban & dense urban areas.
HFCL’s 5G mmWave FWA CPE products will support multiple spectrum bands required for the global markets. HFCL’s FWA CPE products will leverage some of the advanced features of the Qualcomm® 5G Fixed Wireless Access Platform Gen 2 featuring Snapdragon® X65 5G Modem-RF System like extended-range, carrier aggregation, and Qualcomm® Dynamic Antenna Steering to deliver a superior customer experience.
Mahendra Nahata, Managing Director, HFCL said, “Qualcomm Technologies is a recognised world leader in 5G technology and we are very pleased with this collaboration with Qualcomm Technologies, which also aligns with our commitment to bridge the digital divide globally. FWA CPE will help strengthen HFCL’s evolving 5G product portfolio and help create new revenue streams for our customers. It also aligns with our strategy to bring new products, to new customers, and to newer geographies.”
Rajen Vagadia, Vice President, Qualcomm India Private Limited and President, Qualcomm India & SAARC added, “We are excited that HFCL selected the Qualcomm® 5G Fixed Wireless Access Platform Gen 2 to incorporate in its 5G mmWave FWA CPE products, further supporting the digital transformation of India by developing a suite of 5G infrastructure products. Qualcomm Technologies is committed to powering innovations and supporting India’s participation as a supplier of advanced 5G infrastructure products both to India & globally. We strongly believe that 5G mmWave fixed wireless access technology will help connect the unconnected and also, offer wireless fiber connectivity to Indian consumers.”
Global technology intelligence firm, ABI Research forecasts worldwide that the 5G FWA market will increase from six million CPE units per year in 2022 to more than 26 million per year in 2026.