Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stock Report

| More

HFCL bags Orders for Rs.502.73 crores for supply of Optical Fibre Cables

Posted On: 2019-01-10 16:38:09

Himachal Futuristic Communications Limited (HFCL) is pleased to announce that it has won orders of INR 502.73 Crores for supply of Optical Fibre Cables (OFC) from Larsen & Toubro (L&T) and a consortium led by ITI.

Order from L&T amounts to INR147.73 Crores for supply of 16,882 KM OFC which shall be used by L&T for creating OFC Network infrastructure in Andhra Pradesh under BharatNet Phase-11 Project.

Another such key order has been received from ITI Led Consortium valued at INR INR355 Crores for supply of 37,798 KM OFC to be deployed by them in Maharashtra under BharatNet Phase-11 Project.

BharatNetProgramme forms one of the key pillars of Digital India Program. It is a project of national importance envisaging broadband connectivity for 2,50,000 Gram Panchayats in the country.

Apart from contributing to the domestic projects, HFCL has been exporting OFC for prestigious broadband projects in Europe. HFCL exports optical fibre cables to more than SO countries worldwide and its consistent efforts will help increase its global market share.

Due to quality products, Company's OFC is in huge demand with repeat orders from reputed customers leading to the existing capacity fully utilised.

Considering above, HFCL is putting up a Greenfield OFC manufacturing facility in Hyderabad with an estimated capex of INR110 Crores which would manufacture 10.50 million fibre kilometre (FKM) OFC p.a.. This would take Company's standalone OFC capacity from existing 8 million FKM p.a. (at Goa Plant) to 18.50 million FKM p.a.. The commercial production will start at new Facility by June, 2019. In addition, the Company with a capex of JNRSO Crores approx, is also expanding OFC manufacturing capacity of its subsidiary HTL Limited in Chennai from existing 4 million FKM p.a. to 7 million FKM p.a. This will enable HTL to also manufacture Ribbon Cables and Cable accessories. The OFC expansion in HTL is likely to be completed by February, 2019 which will take the HFCL's consolidated OFC capacity to 25.50 million FKM p.a.. With the said significant expansion, HFCL is responding to rising demand from its valued customers. The Company with consolidated capacity shall become one of the leading OFC manufacturers in the world.

Moreover, keeping in mind fluctuating supply position and prices of optical fibre, the Company is also setting up a Greenfield Optical Fibre Manufacturing Facility at Hyderabad as a backward integration with a capex of INR228 Crores which will enhance its operating margins. This plant will deliver 6.40 million FKM p.a. Optical Fibre in Phase-1. The Plant is designed to scale up to 9.60 million FKM p.a. in a short period. It is expected that the plant will be operational by July, 2019.

Shares of HIMACHAL FUTURISTIC COMMUNICATIONS LTD. was last trading in BSE at Rs.23.15 as compared to the previous close of Rs. 23. The total number of shares traded during the day was 796097 in over 1097 trades.

The stock hit an intraday high of Rs. 23.6 and intraday low of 22.75. The net turnover during the day was Rs. 18520772.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

HCL and Xerox expand Strategic Partnership to accelerate operational Transformation

Jet Airways India Ltd grounds another 6 aircraft

Vikas WSP Ltd updates on US court litigation

Tata Steel Bsl Ltd allots NCRPS worth Rs. 6500 crore to Tata Steel Ltd

IDBI Bank Ltd approves rupee bond borrowing limit of Rs. 4000 crore

Newgen secures another Patent for its invention - Integrated and Automatic Generation of Carbon Credits

Colgate Palmolive India Ltd board to consider interim dividend on March 29, 2019

Datamatics Global Services Limited acquires additional 10% stake in Datamatics Digital Ltd

Fortis Healthcare Ltd appoints Dr Ashutosh Raghuvanshi as MD

Maruti Suzuki India Ltd introduces EECO with additional Safety features

V-Mart Retail Ltd opens new store in state of Uttar Pradesh

Adhunik Industries Ltd announces resignation of CFO

Poddar Pigments Limited appoints Joint MD

V-Mart Retail Ltd opens new store in Assam

Fire accident at Rushil Decor Ltd's factory located at Chikmagalur, Karnataka

Eris Lifesciences Ltd announces resignation of Mr. Himanshu Shah, Executive Director

ONGC board to consider interim dividend on March 23, 2019

Centrum Capital Ltd has sold stake in subsidiary

MEININGER Hotels open property in Budapest Hungary

Muthoot Capital Services Ltd completed transaction of Rs. 236.36 crores through securitization of portfolio

Velan Hotels Ltd updates on OTS with RARE ARC

SBI Life Insurance Company Ltd board to consider interim dividend on March 26, 2019

Velan Hotels Ltd board to consider acceptance of OTS by RARE ARC

Indian Oil Corporation Ltd board declares 2nd interim dividend of Rs. 1.50

Voltamp Transformers Ltd develops new product - Ring Main Unit

Intellect conducts its User Meet 2019 in Dubai

BEML Ltd fixes March 29, 2019 as record date for interim dividend

Zydus receives final approval from the USFDA for Acyclovir Ointment

V-Mart Retail Ltd opens two new stores in UP and West Bengal

Kaveri Seeds sets up Asia's largest corn cob drying facility in Telangana

TCS Named Snowflake EMEA GSI Partner of the Year

GHCL Limited to launch new bedding product

CRISIL revises ratings of Lincoln Pharmaceuticals Ltd

Prism Johnson Ltd acquires 3700 shares of CSE Solar Parks Satna Private Limited

GRM Overseas Ltd purchases assets of United Foods Pvt Ltd from PNB

Aurionpro Solutions Ltd board to consider buy back of shares on March 25, 2019

Viaan Industries Ltd to acquire 50% in Avalance Technology Private Limited

GRM Overseas Ltd announces purchase of immovable property for Rs. 1.54 crore

Mindtree promoters unconditionally oppose the hostile takeover bid by L&T

Orbit Exports Ltd Board approves Buy back of equity shares

Majesco announces expansion of leadership team

L&T announces open offer for Mindtree Ltd at Rs. 980

Mukesh Ambani bails out Anil again

L&T to acquire significant stake in Mindtree in an allcash transaction subject to regulatory approvals

RBI renews the authorization issued to Vakrangee for White Label ATMs

Sagar Productions Ltd bags worldwide distribution rights for film 'Ram Ki Janmabhoomi'

RCom group and Reliance Jio terminate agreements by mutual consent

Aegis Logistics Ltd board approves interim dividend of Rs. 0.50 for 2018-19

Aarti Industries Ltd opens QIP

Global Offshore Services Ltd appoints additional director

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019