In early trading on 20 January, shares of HFCL soared to a 52-week peak, reaching Rs 94.99, buoyed by the announcement of a substantial Rs 623 crore contract for 5G equipment supply. The company has received this significant order, valued at Rs 623 crore, for providing domestically produced 5G network equipment. According to HFCL, this order marks the first large-scale procurement of 5G network equipment by a telecom service provider from an Indian company.

As of 9.19 am, HFCL’s stock was trading at Rs 94.97, a gain of Rs 6.66 or 7.54 percent, on the Bombay Stock Exchange (BSE).

HFCL has been actively investing in developing a comprehensive range of 5G networking equipment. This range is designed to revolutionize telecom operators’ access, transport, and last-mile networking capabilities.

The recent order acquisitions by HFCL reinforce the effectiveness of its strategic shift from project-based work to a focus on products with higher profit margins. Additionally, the introduction of new products, expansion to new markets, and engagement with new clients are contributing positively to the company’s growth. Mahendra Nahata, Managing Director of HFCL, expressed confidence that these strategies are significantly enhancing the company’s position and will continue to strengthen it in 2024.

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