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This stock rose 22% in a week, hit 52-week high today

The company informed that it has established a new 5G business unit to develop a portfolio of next-generation 5G compatible products and services. It has also launched and delivered 1.5 lakh units' shipment of Wi-Fi products within the first year of commencement of production

twitter-logoBusinessToday.In | May 17, 2021 | Updated 16:25 IST
The stock has gained 311 per cent in one year and risen 65 per cent since the beginning of this year.
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Share of HFCL rose nearly 18 per cent to hit a 52-week high of Rs 43.75 on BSE today.

Later, the stock ended 14.52 per cent higher at Rs 42.60 against the previous close of Rs 37.20. The stock has gained 311 per cent in one year and risen 65 per cent since the beginning of this year. HFCL's share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages.

As per the share price history, HFCL's share at BSE closed at Rs 34.30 on May 10, 2021. It hit an intraday high of Rs 43.75 in today's morning session. In a week, the stock has delivered nearly 22 per cent returns. On NSE, the share hit a fresh 52-week high of Rs 43.75. Market cap of the firm fell to Rs 5,471.45 crore.

The company reported a net profit of Rs 84.67 crore in Q4. Profit in the year-ago period stood at Rs 5.78 crore. Net sales grew 109.8 per cent to Rs 1391.40 crore for the quarter ended March 2021 compared to Rs 663.19 crore in the year-ago period.

The company informed that it has established a new 5G business unit to develop a portfolio of next-generation 5G compatible products and services. It has also launched and delivered 1.5 lakh units' shipment of Wi-Fi products within the first year of commencement of production.

"Our R&D efforts for constant innovation, fortitude to pursue growth even amid the challenges of the Covid-19 pandemic and faith of our customers have been core drivers to our success. We have a strong order book of Rs 6,875 crs with an attractive pipeline ahead. The Company's emphasis is to design and develop new generation telecom and defence products by its own R&D, having promising opportunities across industries like telecom, railways and defence," said Mr. Mahendra Nahata, the Managing Director, HSPL Ltd.

He further added that the company's outlook is very optimistic given the increasing demand for optical fiber cables and Telecom Equipment, not only in India but also from overseas market as shift to digital economy has accelerated globally. The government's policies such as PLI for telecom sector and boost to Make in India program will provide strong tailwinds to domestic telecom equipment manufacturing.

Recently, the company also announced the launch of its Telecom Infra Project (TIP) Open WIFI compliant Access Points. TIP is a global community of companies and organisations that are driving infrastructure solutions to advance global connectivity.

"Our vision to connect the unconnected has further been strengthened with TIP Open WIFI compliance for our IO Indoor and Outdoor Access Points. It will enable us to extend our reach globally and offer open source powered Wi-Fi solutions interoperable with other TIP compliant provider products thereby helping faster, cost effective, and plug and play deployments", Nahata said.

HFCL Limited (formerly Himachal Futuristic Communications Limited) is a technology enterprise engaged in manufacturing of high-end Transmission and Access Equipment, Optical Fiber, Optical Fiber Cables (OFC). It is specialises in setting up of modern communication network for Telecom Service Providers, Railways, Defence, Smart City and Surveillance projects.

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