Shares of HFCL Limited surged 5 percent to Rs 171 to hit a new 52-week high in morning trade on September 23 after the company announced that it has entered into a strategic partnership with General Atomics Aeronautical Systems Incorporated (GA-ASI).
HFCL has secured a deal to develop and supply critical sub-systems for GA-ASI’s advanced unmanned aircraft systems (UAS). This partnership elevates HFCL's role in producing some of the world’s most advanced unmanned aerial vehicles.
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The company is focused on creating a key radar sub-system for UAVs, designed to be compact, lightweight, and compliant with stringent MIL-STD and environmental standards. These advanced radar and RF solutions are being crafted by HFCL's subsidiary, Raddef, alongside a state-of-the-art drone detection radar.
In addition, HFCL is also working on various R&D projects such as ground surveillance radars, weather radars, threat emulators, and passive radars.
"Our collaboration with General Atomics strengthens HFCL’s standing in global defence and highlights our dedication to modernizing India’s defence capabilities," said Managing Director Mahendra Nahata.
"This landmark alliance with General Atomics not only elevates HFCL’s standing in the global defence industry but also strengthens its commitment to delivering technology solutions that help nations safeguard and support their strategic goals," the company said in a regulatory filing on September 22.
At about 9:50 am, shares of the company were trading at Rs 168, higher by 4 percent from the last close on the NSE. HFCL shares were trading at Rs 168, up 4 percent from the last close on the NSE. HFCL shares have rallied 100 percent since the start of the year.
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