HFCL rose 3.36% to Rs 27.65 after the company said it bagged a Rs 221 crore order from Uttar Pradesh Metro Rail Corporation for Kanpur metro and Agra metro projects.
Under these projects, the company will be setting up telecommunication systems for 32.4 kms of Kanpur metro and 14 kms of Agra metro and the same would be completed in next 33 months.
Uttar Pradesh Metro Rail Corporation (UPMRC) is a 50:50 jointly owned company of Government of India and Government of Uttar Pradesh for implementation and operation of metro rail projects in various important cities in the state of Uttar Pradesh, such as in Kanpur and Agra which have been recently approved by the Government of India.
Mahendra Nahata, Managing Director, HFCL Limited, said, "HFCL will design, manufacture and install telecommunication systems for Kanpur Metro and Agra Metro that will boost smart rail connectivity of citizens and travelers in these important cities and make them future ready. There were some large Indian and multinational companies participating in this tender but HFCL won the order competitively based on our deep expertise and vast experience in successfully executing such metro & rail projects domestically as well as internationally."
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.
The company's consolidated net profit jumped 86.7% to Rs 85.11 crore on 49.7% increase in net sales to Rs 1,277.48 crore in Q3 December 2020 over Q3 December 2019.
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