The shares of HFCL Ltd. rose as much as 8.5% intraday, the highest since Jan. 17, 2022, and were trading 7.28% higher at 10:16 a.m. The stock has risen 32.87% in the past 12 months. The total traded volume for the day was 2.8 times its 30-day average. The one analyst tracking the company maintains a 'buy' stance on the company, according to Bloomberg data.
Key takeaways:
- The Delhi-based company, HFCL Ltd., will provide equipment for a 5G network to a domestic telecom service provider by December 2024.
- HFCL Ltd. has bagged an order worth Rs 623 crore from a telecom service provider, causing its shares to rise over 8% to a two-year high.
- The company has not revealed the name of the telecom service provider from which it received the supply order.
- As of the time of the report, HFCL Ltd. shares had risen as much as 8.5% intraday, the highest since Jan. 17, 2022, and the stock had risen 32.87% in 12 months.