Shares of HFCL Limited surged by over 4% in morning trade following the announcement that the company, in partnership with its consortium members, has emerged as the lowest bidder for the prestigious optical fibre broadband network projects under BharatNet Phase III. The projects, valued at a whopping Rs 13,000 crore, cover the UP East, UP West and Punjab circles.
HFCL’s involvement in the UP East and UP West circles is through a consortium, while it is bidding alone for the Punjab region.
As of 10:35 am, HFCL shares were trading 2.97% higher at Rs 131.91 on the NSE.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
