HFCL gains nearly 6% on orders win worth Rs 502 crore

Shares of Himachal Futuristic Communication (HFCL) gained 5.8 percent intraday Friday after company won orders worth Rs 502 crore.

The company has received the purchase orders worth Rs 502.73 crore approximately from Larsen & Toubro and a consortium led by ITI for creating OFC Network Infrastructure under BharatNet Phase-II project in Andhra Pradesh and Maharashtra respectively.

Larsen & Toubro (L&T) awarded a contract worth Rs 147.73 crore for supply of optical fibre cables to be executed by May 2019.

Company bagged another order worth Rs 355 crore from Aksentt Tech Services (ITI led consortium) which is to be executed by October 2019.

At 09:28 hrs Himachal Futuristic Communication was quoting at Rs 24.10, up Rs 0.95, or 4.10 percent on the BSE.

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