HFCL is a bright star on this sparkling first day of 2024. The stock, which had closed on Friday at Rs.84.16, opened higher today at Rs.86 and went on further to hit a new 52-week high at Rs.88.59.

The stock hit a new high on news that it has received an Advance Purchase Order (“APO”) worth Rs.1127 crore from BSNL.

This order pertains to the implementation of BSNL’s optical transport network for carrying traffic of BSNL on PAN India basis. Besides meeting demand of enhanced high capacity data for its Enterprise and FTTH/Broadband services, this network upgrade will also deliver the required bandwidth for launch of 4G service by BSNL and will also make the national carrier future-ready in rolling-out 5G services in coming years.

The scope of work under the above APO includes design, planning of architecture, engineering, supply, installation & commissioning and system integration of OTN (Optical Transport Network) equipment across India in BSNL (“OTN Project”).

The scope of work under the above APO also include Operation and Maintenance for a period of three years including eight year comprehensive Annual Maintenance Contract for which Rs.170 crore will be paid by the BSNL.