HFCL Secures ₹135 Crore Contract from RailTel, Shares Surge 7.5%
HFCL rises 7% as firm bags Rs 135-crore contract from RailTel; stock surges nearly 150% in last two months
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HFCL Ltd's shares increased by 7.5% following the announcement of a ₹135 crore contract from RailTel Corporation of India for an Annual Maintenance Contract. The contract, lasting five years, supports the secure operations network for Indian defence forces.
- 01HFCL received a ₹135.09 crore contract from RailTel for the Annual Maintenance Contract (AMC) of the Secure Operations Network.
- 02The AMC will last for five years, concluding in January 2031.
- 03HFCL previously implemented the Secure OPS Network, establishing a central data center and 120 mini data centers for defence forces.
- 04The company's shares have surged nearly 150% over the past two months, trading at ₹173.57 apiece.
- 05Technical analysis indicates strong bullish momentum, with the stock trading above key exponential moving averages.
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HFCL Ltd's shares rose by 7.5% on May 27, reaching ₹173.57, after the company announced it secured a ₹135.09 crore contract from RailTel Corporation of India for the Annual Maintenance Contract (AMC) of the Secure Operations Network for Indian defence forces. This five-year contract, which runs until January 2031, follows HFCL's successful implementation of the network, which included a central data center and 120 mini data centers. The AMC will provide comprehensive maintenance support to ensure the network's reliability and security, including preventive maintenance and 24/7 technical support. Over the last two months, HFCL's stock has surged nearly 150%, reflecting strong market confidence and bullish momentum as indicated by technical analysis, which shows the stock trading firmly above key exponential moving averages.
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The contract supports critical communication infrastructure for the Indian defence forces, enhancing operational security.
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