HFCL secures order worth Rs. 117 crore, stock shines

Himachal Futuristic Communications (HFCL) informed the bourses on Wednesday that is has secured a purchase order worth Rs. 117 crore from Tata Project for the supply of Optical Fibre Cables (OFC) for creating OFC Network Infrastructure under Bharat Net Phase-II Project in the state of Chhattisgarh.

BharatNet Programme forms one of the key pillars of the Digital India Program. It is a project of national importance, envisage to connect & provide broadband connectivity to around 2,50,500 Gram Panchayats in the country. The supply of the requisite material will be completed within 24 months from the date of Purchase Order with LC payment terms.

Earlier this week, the company had bagged work order for Rs. 527.44 crore from Jharkhand Communication Network Limited for implementing Bharat Net Phase-11 in the State of Jharkhand.

In response to this development, the stock of HFCL reacted positively and surged more than 3 per cent to touch an intra-day high of Rs. 24.45 apiece. At 12.52 hours, the stock was trading at Rs. 24.2 apiece, up by nearly 2.1 per cent from the previous close.

HFCL is one of India’s largest telecom network turnkey implementation companies, with wide and deep capabilities and domain expertise in rolling out advanced telecom networks.