Shares of Finolex Cables were up 3.5% at Rs 87 after the company announced that it has received an order for optical fibre cable.
Finolex Cables Ltd has informed BSE that the Company has been awarded an advance purchase order of over Rs. 200 crores for Metal Free Optical Fibre Cable (OFC) of the National Optic Fibre Network ("NOFN") backbone project, the company said in a filing on the BSE after market hours on Tuesday.
The said project is targeted at providing connectivity to over 250000 gram panchayats across the Country for better e-governance, e-health services, and educational services to the people of India, the release said.
The stock opended at Rs 85.60 on the BSE and touched an intra-day high of Rs 87.50 so far. Nearly 588,000 shares were traded on both the stock exchanges so far.
