Stock Market Today: The mid-cap stock HFCL Ltd gained up to 4% in the morning trades on Friday despite pressure on the benchmark indices that declined up to 0.6%.
The HFCL share price opened at ₹105.45 on the BSE on Friday, with gains of close to 3% over the previous day close. The HFCL share price thereafter gained further to intraday highs of ₹106.80 , which translated into gains of more than 4%. The HFCL Ltd share price has rebounded well from 13 January 2024 lows and is up moe than 12% in past few sessions this week.
The gains for HFCL share price are being led by strong order flows.
HFCL secured ₹2501.30 Cr order from Bharat Sanchar Nigam Limited
HFCL on Thursday post market hours announced having received ₹2501.30 Crores from Bharat Sanchar Nigam Limited (BSNL)
HFCL in its release on the exchanges, Company has successfully secured an Advance Work Order aggregating to ₹2,501.30 Crores for the design, supply, construction, installation, upgradation, operation, and maintenance of the middle-mile network of BharatNet Phase III in the Punjab Telecom Circle, from Bharat Sanchar Nigam Limited .
The time period of completion of the order is three Years for construction & 10 years of Maintenance Contract (Opex) @ 5.5% per annum of capex for 1st 5 years & @ 6.5% per annum of capex for next 5 years.
The Broad consideration or size of the order contract stands at ₹2,501.30 crores ., which includes Capex of ₹1244.61 Crores, Opex for newly constructed network ₹746.76 Crores and Opex for Existing Network ₹509.94 Crores
The BharatNet Phase III is set to link all 640,000 villages in India with high-speed internet, targeting over 250,000 gram panchayats. It aims to deliver a minimum of 100 Mbps bandwidth at each GP, bringing every GP online. The Company (HFCL) is dedicated for executing this landmark project in line with the Government’s vision of a ‘Digital India,’caiming to bridge the digital gap, especially in rural and underserved regions.
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