HFCL Surges 9% On Winning Purchase Order Worth Rs 2467 Crore

Shares of Himachal Futuristic Communication (HFCL) surged 8.5 percent intraday on August 20 after the company received purchase order worth Rs 2,467 crore.

The company has received a purchase order worth Rs 2,467 crore from Bharat Sanchar Nigam for setting up the converged nationwide IP /MPLS backbone & access network for armed forces under the network for spectrum (NFS) programme of the government.

The scope of work also include operation and maintenance for a period of 10 years including 3 year warranty period for which Rs 862 crore will be paid by the Indian Defence Services, after the warranty period is over.

This project is funded by the Department of Telecom (DOT) and the Government of India. BSNL has been appointed as the nodal agency by the DoT for project execution.

At 1220 hrs, Himachal Futuristic Communication was quoting at Rs 19.85, up Re 1, or 5.31 percent on the BSE.―Money Control