HFCL shares in focus amid bagging Rs 44.36 crore contract from Indian Army

Amid strong movements by the benchmark equity indices, shares of HFCL, a company that provides digital network solutions, were in high demand during early trading on Monday, March 10.

After the company announced late on Friday, March 7, that its material subsidiary, HTL Limited, had received an order worth Rs 44.36 crore from the Indian Army, investors showed a greater interest in purchasing shares of the company.

"This indigenously manufactured solution features optical fiber cables capable of withstanding heavy armored vehicle loads and is equipped with specialized military-grade connectors designed for harsh and demanding environments.

It is specifically engineered for mission-critical applications requiring rapid deployment of optical fiber communication links in challenging battlefield conditions," it said in the exchange filing.

The company added that the contract is to be executed by July 2025. 

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HFCL shares rose by 2.4 percent on Monday, reaching an intraday high of Rs 85.90, up from the previous session's close of Rs 83.86.

HFCL specializes in digital networks for telecommunications, enterprises, and governments, boasting strong research and development expertise along with global system integration services.

The company operates manufacturing plants in India and serves a worldwide customer base, providing solutions such as 5G Radio Access Networks (RAN), 5G Transport, Wi-Fi, and defense electronics.

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