HFCL shares rise 5% intra day on winning Rs 8,100 cr project 

Shares of HFCL gained over 5% intra day on Monday amid high volatility in the broader market. HFCL stock rose 5.52% intraday to Rs 133.80 against the previous close of Rs 126.80 on BSE. HFCL stock opened higher at Rs 126.20 on BSE. The rally in the stock came after the company said along with partners Rail Vikas Nigam Ltd (RVNL) and Aerial Telecom Solutions, it has emerged as the lowest bidder for BharatNet Phase III project bids totalling Rs 8,100 crore. 

HFCL shares have gained 94.25% in one year and risen 51.34% since the beginning of this year. Market cap of HFCL rose to Rs 18,473 crore on BSE. Total 25.06 lakh shares of the firm changed hands amounting to a turnover of Rs 18.54 crore. Later, the stock ended 0.99% higher at Rs 128.05. 

The stock has a beta of 2.1, indicating very high volatility in a year. The stock fell to a 52-week low of Rs 65.04 on November 10, 2023 and hit a 52 week high of Rs 171 on September 23, 2024. In terms of technicals, the relative strength index (RSI) of  HFCL stock stands at 47.9, signaling it's trading neither in the oversold nor in the overbought zone. HFCL shares stand higher than the 5 day, 10 day, 20 day, 150 day, 200 day but lower than the 30 day, 50 day, 100 day moving averages.

Mahendra Nahata, Managing Director of HFCL said, “Our proven track record in executing strategically critical projects, strengthens our standing as trusted partner of the Government of India. HFCL is well placed with a diverse product line that includes routers, optical fiber cables, fiber connectivity solutions, transport solutions, power management solutions etc., to address the needs of the BharatNet Phase III program. As a trusted BSNL partner, we look forward to continued collaborations and contributing significantly to the success of BharatNet Phase-III program.” 

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. It provides solutions for building wireless and optical telecommunication networks, such as optical transport networks (DWDM), rural global system for mobile communications (GSM) networks, broadband access networks, radio backhaul, fiber to the home and in-building solutions.