The shares of HFCL Limited were trading 2 percent higher till the afternoon of Tuesday at Rs 76 levels. The stock was in focus today after it received orders worth Rs 95.38 crores from Reliance Projects & Property Management Services Limited.
The Company along with its material subsidiary, HTL Limited, has received the Purchase Orders from Reliance Projects & Property Management Services Limited, one of the leading Private Telecom Operators in the Country, for the supply of Optical Fiber Cables.
In the past five days, the shares of the company have zoomed by 5 percent and in the span of six months the shares have gained approximately 40 percent. The stock reached its 52-week high of Rs 101.35 in January last year. Currently, it is trading at a discount of 20 percent from those levels.
HFCL is a global technology company that has been in operation in various segments of manufacturing, Research & Development, and turnkey solutions. It stands as a leading manufacturer of Optical Fiber and Optical Fiber cables.
The company is also heavily investing to upgrade the 5G telecom infrastructure in India. HFCL is the first OEM in India to design (based on its own IPR) and launch this Wi-Fi technology to complement the indoor 5G coverage. It is also in the process of developing various 5G transport products, including cell site routers, DU (distributed unit) aggregation routers, and CU (centralized unit) aggregation routers.
In Q2FY23, the 5G company reported a total revenue of Rs 1,173.47 Crore and a net profit of Rs 84.34 Crore. The company has a market capitalization of Rs 10,567 Crore.
The promoters of the company hold a 39.2 percent stake in the company and have pledged 44.72 percent of it. In addition to that, Foreign Institutional Investors (FIIs) hold a 6.72 percent stake in the company.
Written by Anoushka Roy
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
