Mr. Mahendra Nahata, MD, HFCL on BSNL relief package:
"The overwhelming response to 5G spectrum auction shows the industry's confidence in the telecom sector, its continued growth and the government's policies. Our honourable Prime Minister Shri Narendra Modi Ji has given a transparent government to our country. His policies of transparency and ease-of-doing business are being aptly followed by the Ministry of Communications under the able and dynamic leadership of Honourable Minister Shri Ashwini Vaishnav Ji.
The relief package of Rs. 1.64 lakh crore for BSNL announced by the Honourable Minister of Communications will revive BSNL to become a strong business enterprise. A strong BSNL is vital for the country for its strategic reasons and crucial for the growth of the entire telecom sector of India. The current management of BSNL has a focussed approach to its revival. The announced relief package will strengthen the hands of BSNL management to transform it into a world-class telecom service provider that effectively competes with its peers.
HFCL welcomes these vital government initiatives for strengthening the Indian telecom sector.
We are excited about the 5G rollout becoming a reality soon and the vast opportunity that will unfold for Indian enterprises and consumers. The launch of the 5G network will enable telecom operators to start providing a new generation of high bandwidth services to customers. 5G will allow enterprises to embark on the Industry 4.0 journey, and it will help accelerate digital transformation across industries spanning manufacturing, retail, utilities, smart cities and more. The 5G revolution would contribute significantly in achieving our honourable PM's vision of India becoming a USD 5 trillion economy, and it will aid in bridging the digital divide - thus making various services like healthcare, education, financial services, e-commerce & entertainment accessible to the bottom of the pyramid.
HFCL has been on a transformation journey to become a leading high-tech enterprise and integrated next-gen communication product, provider. As one of India's leading telecom equipment and optical fibre cables manufacturer, these recent announcements will open up the opportunity to offer our clients more India-made end-to-end solutions with open-source technology."
Shares of HFCL Limited was last trading in BSE at Rs. 66.50 as compared to the previous close of Rs. 66.30. The total number of shares traded during the day was 1149971 in over 5936 trades.
The stock hit an intraday high of Rs. 68.00 and intraday low of 65.85. The net turnover during the day was Rs. 76788758.00.