HFCL shares rise on order win from RVNL

Shares of HFCL Ltd gained over 2% today on fresh order win from RVNL Ltd. HFCL won advance purchase orders worth Rs 2,167.65 crore for the supply of optical fiber cables, telecom equipment and related accessories for the BharatNet Phase III in Uttar Pradesh. HFCL stock rose 2.13% intraday to Rs 103.25 against the previous close of Rs 100.95 on BSE. HFCL stock opened higher at Rs 102.85 on BSE.

The supply order is to be executed in three years. The order also includes maintenance of the telecom equipment for 10 years, including a one-year warranty period. The orders are for the BharatNet Phase III in Uttar Pradesh (East) Telecom Circle and Uttar Pradesh (West) Telecom Circle.

The total cost includes Rs 1,736.83 crore capital expenditure and Rs 430.82 crore operating expense.

HFCL Limited is primarily engaged in manufacturing of telecommunication equipment, optical fiber cables and intelligent power systems. The company is a manufacturer of optical fiber cables, optical transport, power electronics and broadband equipment for the telecommunication industry.