HFCL sizzles after new order win

Himachal Futuristic Communications rose 3.45% to Rs 23.95 at 10:28 IST on BSE after the company announced that it has won orders of Rs 502.73 crore for supply of optical fibre cables from Larsen & Toubro and a consortium led by ITI.

The announcement was made after market hours yesterday, 10 January 2019.

Meanwhile, the S&P BSE Sensex was down 40.38 points, or 0.11% to 36,066.12

On the BSE, 8.51 lakh shares were traded in the counter so far, compared with average daily volumes of 9.08 lakh shares in the past two weeks. The stock had hit a high of Rs 24.50 and a low of Rs 23.75 so far during the day.

Himachal Futuristic Communications (HFCL) announced that it has won orders of Rs 502.73 crore for supply of optical fibre cables (OFC) from Larsen & Toubro (L&T) and a consortium led by ITI. Order from L&T amounts to Rs 147.73 crore for supply of 16,882 KM OFC which shall be used by L&T for creating OFC Network infrastructure in Andhra Pradesh under BharatNet Phase-11 Project.

Another order has been received from ITI led consortium valued at Rs 355 crore for supply of 37,798 KM OFC to be deployed by them in Maharashtra under BharatNet Phase-11 Project.

Net profit of Himachal Futuristic Communications rose 57.97% to Rs 39.76 crore on 97.64% rise in net sales to Rs 1137.41 crore in Q2 September 2018 over Q2 September 2017.

HFCL is a leading telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables, having its manufacturing facilities at Solan, Goa and Chennai.

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