Himachal Futuristic Communication gains 2% after subsidiary bags order from BEL

Himachal Futuristic Communication shares gained 2 percent intraday on July 12 after its subsidiary bagged an order from Bharat Electronics.

"Subsidiary HTL has received a purchase order worth Rs 198.82 crore from state-owned company Bharat Electronics," the fibre optic cable manufacturing company said in its BSE filing.

The order is for the supply of various types of optical fibre cables.

"The order will be completed by July 2020. We will get 90 percent payment through letter of credit with 90 days usance and balance 10 percent against submission of performance bank guarantee initially valid for 1 year," HFCL said.