HFCL rises on emerging as lowest bidder for telecom tender

Himachal Futuristic Communications rose 1.60% to Rs 34.85 at 12:32 IST on BSE after the company said it emerged as the lowest bidder in a telecom tender.

The announcement was made on Sunday, 14 January 2018.

Meanwhile, the S&P BSE Sensex was up 293.06 points, or 0.85% to 34,885.45.

On the BSE, 24.03 lakh shares were traded in the counter so far, compared with average daily volumes of 48.40 lakh shares in the past two weeks. The stock had hit a high of Rs 36.10 and a low of Rs 34.75 so far during the day. The stock hit a 52-week high of Rs 36.65 on 11 January 2018. The stock hit a 52-week low of Rs 11.85 on 30 June 2017.

With reference to the rumour being circulated on social media platforms titled, HFCL wins orders worth Rs 2500 crore from Indian Defence, Himachal Futuristic Communications (HFCL) clarified that it has not won any such order as mentioned in the rumour.

However, the company emerged as the lowest bidder in a major tender of more than Rs 2600 crore for GIS based Optical Fibre Network Management System (GOFNMS) for which Bharat Sanchar Nigam has yet to issue advance purchase order to the company.

Net profit of Himachal Futuristic Communications rose 1.12% to Rs 25.17 crore on 39.19% rise in net sales to Rs 575.50 crore in Q2 September 2017 over Q2 September 2016.

Himachal Futuristic Communications is a leading manufacturer of optical fiber cables, optical transport, power electronics and broadband equipment for the telecommunication industry.

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