HFCL shares gained more than 3% in Friday’s trade after the company announced a major development in its defence expansion plans. As of 9:34 AM, the shares were trading 3.59% higher at Rs 72.80.
The Industries and Commerce (Infra) Department of the Government of Andhra Pradesh has approved HFCL’s proposal for allotment of 1,000 acres of land in Madakasira Mandal, Sri Sathya Sai District. The approval, received through a government order dated September 6, 2025, comes via the State Investment Promotion Board.
In the first phase, the Andhra Pradesh Industrial Infrastructure Corporation Limited (APIICL) will allot 329 acres of land, followed by an additional 671 acres in the second phase.
HFCL plans to set up advanced defence manufacturing facilities on this land, including production of artillery ammunition shells, TNT filling units, and multi-mode hand grenades, among other strategic defence products.
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