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HFCL gains 4% after bagging orders from two firms

The optical fibre cable manufacturer in its BSE filing said it has received orders worth Rs 73.39 crore from a telecom operator and an EPC player.

June 10, 2022 / 01:48 PM IST
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HFCL share price rallied 4 percent intraday on June 10 after bagging orders for supply of unlicensed band radios (UBRs) and optical fibre cables.

The optical fibre cable manufacturer in its BSE filing said it has received orders worth Rs 73.39 crore from a telecom operator and an EPC (engineering, procurement, and construction) player.

The order from one of the leading private telecom operators of the country for supply of UBRs along with accessories, which has to be executed by September, is worth Rs 51.09 crore.

And the second order worth Rs 22.30 crore has been bagged from one of the leading EPC players of India for supply of optical fibre cables. The company will supply these cables by end of the current month.

HFCL manufactures optical fibre cables at its three facilities at Goa, Hyderabad and Chennai.

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This is the second order received by the company in the current quarter ending June. Earlier on May 31, HFCL reported that it had received orders worth Rs 237.25 crore from one of the leading private telecom operators of the country for supply of optical fibre cables.

At 13:33 hours IST, the stock was quoting at Rs 65, up Rs 1.25 or 1.96 percent on the BSE, but overall it has been on a downward trajectory for the last almost two months, falling 22 percent, which is much higher than the correction of 7 percent in Sensex and 10 percent in Midcap during the same period.
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first published: Jun 10, 2022 01:48 pm
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