HFCL shares gain over 8%, hit new 52-week high on ₹623 crore order win

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HFCL (Himachal Futuristic Communications Limited), a company with diverse operations in telecom infrastructure, saw its shares jump 8.52% in today's early trade, touching a new 52-week high of ₹96.10 apiece following the company's announcement of a strong order win. On Friday, the company said it secured an order worth ₹623 crore for the supply of indigenously manufactured Telecom Networking Equipment for the 5G network of one of the domestic telecom service provider.

"This is the first such large order for 5G networking equipment placed on any Indian company by any telecom service provider. This strategic win is a testament to HFCL’s vision of designing and manufacturing high-technology telecom equipment in India," the company said in an exchange filing.

Also Read: Paytm share price rises over 3% after Q3 result; what should investors do? This was the company's second order win this month. Earlier, on January 01, the company secured a significant order valued at ₹1,127 crore from Bharat Sanchar Nigam Limited (BSNL).

HFCL is a leading technology company specialising in creating digital networks for telcos, enterprises, and governments. It has developed capabilities to provide premium-quality optical fiber and optical fiber cables, state-of-the-art telecom products, including 5G Radio Access Network (RAN) products, 5G transport products, WiFi systems (WiFi 6, WiFi 7), unlicensed band radios, switches, routers, and software-defined radios.

Also Read: Kotak Mahindra Bank Q3 Result Preview: Stable credit costs to aid earnings; asset quality to remain steady, say analysts As India emerges as one of the fastest nations to roll out the 5G network, 5G technology has already become a global phenomenon. As per industry estimates,