Telecom stock, HFCL shares in focus as company bags orders for Bharat Net Phase III
The company secured the order from Rail Vikas Nigam Ltd (RVNL).
Telecom stock, HFCL shares in focus as company bags orders for Bharat Net Phase III
Shares of telecom stock, HFCL Ltd are in focus after the company said it bagged advance purchase orders worth Rs 2,167.65 crore for the supply of optical fiber cables, telecom equipment and related accessories for the Bharat Net Phase III in Uttar Pradesh. The company secured the order from Rail Vikas Nigam Ltd (RVNL).
The supply order is to be executed in three years. The order also includes maintenance of the telecom equipment for 10 years, including a one-year warranty period.
The orders are for the BharatNet Phase III in Uttar Pradesh (East) Telecom Circle and Uttar Pradesh (West) Telecom Circle. The total cost includes Rs 1,736.83 crore in capital expenditure and Rs 430.82 crore in operating expenses.
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HFCL Ltd shares ended 1.59% higher at Rs 100.75 apiece on Thursday, January 23. The stock has fallen 15.66% in the last six months.
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