HFCL, a local telecom company, has received orders worth Rs 202.60 crore from two subsidiaries of Reliance Industries and an overseas firm for the supply of optical fiber cable (OFC). The subsidiaries in concern here are Reliance Projects & Property Management Services and Reliance Retail. Reliance subsidiaries' order amounts to Rs 167.60 crore, and the overseas customer has made an order worth Rs 35 crore for the supply of various types of OFC and related accessories. The company said in a filing at the stock exchanges that these orders would be executed by March 2023.
On Wednesday, HFCL' stock closed at Rs 70.10, trading 1.13% in the red. In the last two years, HFCL's stock has grown massively in value. The need for higher fiberisation in India has worked in favour of the company.