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HFCL gains on receiving nod to set up Optical Fibre Manufacturing Facility

11 Aug 2017 Evaluate

Himachal Futuristic Communications (HFCL) is currently trading at Rs. 15.30, up by 0.15 points or 0.99% from its previous closing of Rs. 15.15 on the BSE.

The scrip opened at Rs. 14.75 and has touched a high and low of Rs. 15.45 and Rs. 14.60 respectively. So far 501016 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 19.19 on 31-Jul-2017 and a 52 week low of Rs. 11.09 on 22-Nov-2016.

Last one week high and low of the scrip stood at Rs. 18.75 and Rs. 14.45 respectively. The current market cap of the company is Rs. 1896.25 crore.

The promoters holding in the company stood at 38.30%, while Institutions and Non-Institutions held 10.87% and 50.83% respectively.

Himachal Futuristic Communications (HFCL) has received an approval for setting up an Optical Fibre Manufacturing Facility as a backward integration of optical fibre cable manufacturing at Hyderabad having capacity of around six million fibre kilometre per annum. The Board of Directors of the Company has approved the same at their meeting held on August 10, 2017.

The project will be to reduce the input cost and to overcome the worldwide shortage of fibre supply and the estimated cost of it will be Rs 225 crore. The same is proposed to be funded by way of debt, internal accruals, fresh funding, etc. The facility is likely to be operational in eighteen months time.

Himachal Futuristic Communications (HFCL) is engaged in the manufacturing of telecom equipments and provides turnkey services. The manufacturing facilities of the company are located in Solan, Himachal Pradesh (assembly line), and Salcete, Goa (optical fibre cables).

HFCL Share Price

97.72 -2.60 (-2.59%)
23-Apr-2026 16:59 View Price Chart
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