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Himachal Futuristic jumps after order win

Capital Market 

Himachal Futuristic Communications rose 3.03% to Rs 20.40 at 14:50 IST on BSE after the company said that it received a purchase order worth Rs 186.90 crore from BSNL.

The announcement was made after market hours yesterday, 9 July 2019.

Meanwhile, S&P BSE Sensex was down 153.51 points or 0.4% at 38,577.31.

On BSE, 2.9 lakh shares were traded in Himachal Futuristic Communications counter, compared to a 2-week average of 2.91 lakh shares. The share price hit an intraday high of Rs 20.40 and an intraday low of Rs 19.70. It hit a 52-week high of Rs 31.35 on 11 July 2018 and a 52-week low of Rs 17.20 on 10 December 2018.

Himachal Futuristic Communications announced that it has received a purchase order worth Rs 186.90 crore approximately, from BSNL, for setting up of the optical transmission backbone network for armed forces under the Network for Spectrum Programme ("NFS") of the Government of India.

This project is funded by Department of Telecom, Government of India ("DoT") and BSNL has been appointed as the nodal agency by the DoT for Project execution. As the project has been funded by the DoT, Government of India, the timely realisation against the said order is secured.

Himachal Futuristic Communications' net profit fell 14.6% to Rs 51.49 crore on a 16.1% surge in net sales to Rs 1,094.68 crore in Q4 March 2019 over Q4 March 2018.

Himachal Futuristic Communications is involved in the manufacturing of telecommunication equipment, optical fiber cables and intelligent power systems.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 10 2019. 15:13 IST
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