HFCL soars 7% on winning Rs 1,015 cr order from Madhya Pradesh govt firm

Shares of HFCL soared 7 per cent to excessive a excessive of Rs 77.50 in Monday’s intra-day trades on the again of profitable a mega order, in an in any other case subdued market.

At 1:15 PM, the inventory was up 4 per cent at Rs 75.20 with trades of round 9.79 lakh shares as in opposition to the two-week common quantity of round 11.57 lakh shares on the BSE. In the meantime, the S&P BSE Sensex was down 0.2 per cent at 67,700.

In keeping with a launch issued by the corporate to the BSE on Sunday, it has secured the order aggregating to Rs 1,015 crore, from Madhya Pradesh Jal Nigam, a Authorities of Madhya Pradesh Endeavor (MPJN).

The stated order encompasses for offering EPC Companies together with provision for laying of optical fiber cables on crucial and vital routes, for the execution of Multi – Village Ingesting Water Provide Community in Sheopur district of Madhya Pradesh. This order is predicted to spice up the corporate’s income and profitability, the discharge acknowledged.

The aforesaid Undertaking might be executed by the corporate in collaboration with Khilari Infrastructure as a consortium accomplice, the discharge additional added.

Earlier this month, the Reliance Industries-backed agency has received an Rs 82.60 crore order from a home telecom service supplier.

HFCL is a Gurugram-based firm, primarily engaged within the enterprise of design, improvement and manufacturing of telecommunications tools, fibre-optic cables and different associated electronics.

For the quarter ended June 2023, the corporate had posted a marginal development in internet revenue at Rs 4.88 crore compared with Rs 4.81 crore within the corresponding quarter a 12 months in the past. Complete earnings was down 7.5 per cent year-on-year (YoY) at Rs 88.03 crore.

First Revealed: Sep 18 2023 | 1:29 PM IST

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