HFCL spurts after new order win

Himachal Futuristic Communications surged 5% to Rs 28.35 at 10:21 IST on BSE after the company bagged an advance purchase order for Rs 579 crore approx from BSNL for building 2G GSM network in Assam.

The announcement was made after market hours yesterday, 10 April 2018.

Meanwhile, the S&P BSE Sensex was down 49.37 points, or 0.15% to 33,830.88.

On the BSE, 14.89 lakh shares were traded in the counter so far, compared with average daily volumes of 11.64 lakh shares in the past two weeks. The stock had hit a high of Rs 28.65 and a low of Rs 27.50 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.

Himachal Futuristic Communications (HFCL) said that the company has received an advance purchase order worth Rs 579 crore approx. from Bharat Sanchar Nigam (BSNL), New Delhi vide its letter dated 9 April, 2018.

The order is for survey, planning, supply, installation, testing, commissioning, integration with existing core network and operation and maintenance for five years of 2G global system for mobile (GSM) base service set (BSS) network through microwave radio and VSAT backhaul in uncovered villages of Karbi Anglong & Dima Haso districts of Assam. The network will include 924 BTS sites and cater to 1313 villages.

Net profit of Himachal Futuristic Communications rose 116.26% to Rs 45.48 crore on 79.19% rise in net sales to Rs 714.42 crore in Q3 December 2017 over Q3 December 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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