HFCL rose 1.77% to Rs 17.25 after the company received a letter of award worth Rs 678.50 crore from Larson & Toubro (L&T) for supplying IT equipment, software solutions and associated equipment.
The order is for supplying IT equipment, software solutions, cloud management solutions for setting up of data centers, security operations centers, network operations centers and various other equipment and systems associated with L&T. The project is expected to be completed by April 2022.
HFCL is a telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables, having its manufacturing facilities at Solan, Goa and Chennai.
HFCL reported 21.5% fall in consolidated net profit to Rs 51 crore on a 7.6% rise in net sales to Rs 1054.32 crore in Q2 September 2020 over Q2 September 2019.
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