HFCL surges on entering into strategic partnership with GA-ASI

HFCL is currently trading at Rs. 168.15, up by 6.40 points or 3.96% from its previous closing of Rs. 161.75 on the BSE.

The scrip opened at Rs. 165.40 and has touched a high and low of Rs. 171.00 and Rs. 165.40 respectively. So far 1818972 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 171.00 on 23-Sep-2024 and a 52 week low of Rs. 61.52 on 26-Oct-2023.

Last one week high and low of the scrip stood at Rs. 171.00 and Rs. 148.10 respectively. The current market cap of the company is Rs. 24287.40 crore.

The promoters holding in the company stood at 37.63%, while Institutions and Non-Institutions held 14.41% and 47.97% respectively.

HFCL has entered into strategic partnership with General Atomics Aeronautical Systems Incorporated (GA-ASI). In a significant development that underscores HFCL’s technical prowess and commitment, the Company has been selected to develop and supply critical sub-systems for GA-ASI’s advanced Unmanned Aircraft Systems (UAS). This partnership marks a milestone in HFCL’s journey, as it becomes a key contributor to one of the world’s most sophisticated unmanned aerial vehicles (UAVs).

The collaboration envisions development of critical sub-systems for GA-ASI’s current and future UAV platforms reflecting India's growing investment in advanced defence technologies. HFCL’s selection as a high-technology supplier by GA-ASI is a testament to its cutting-edge research and development capabilities, which meet the stringent design, development, and delivery timelines required for this critical project.

A critical radar sub-system is being developed by HFCL for UAVs showcases HFCL’s technical excellence. This key payload component is known for its compact and lightweight design and adheres to the highest environmental and MIL-STD specifications. HFCL’s products have consistently proven their durability and performance in the most challenging operational environments, solidifying the Company’s reputation as a leader in defence technology.

HFCL’s subsidiary namely Raddef, a front-runner in developing advanced radar and RF solutions, has been instrumental in driving innovation in the defence sector. The Company’s comprehensive range of surveillance radars, which are versatile, portable, and deployable across various terrains, is already well-regarded in the industry. Furthermore, HFCL is actively developing a state-of-the-art Drone Detection Radar, set to become a crucial element in modern drone detection systems. The Company’s ongoing R&D initiatives encompass a wide array of radar technologies, including Ground Surveillance Radars, Weather Radars, Threat Emulators, LTE-based Passive Radars, Fog and Foliage Penetration Radars, Coastal Surveillance Radars, Avalanche Detection Radars, Muzzle Velocity Radars and Altimeters.

HFCL is a leading telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables, having its own manufacturing facilities at Solan and Goa, and its subsidiary i.e. HTL facilities in Chennai and Hosur.