HFCL's share price rose 4% on the BSE after the company secured a ₹2,666 crore contract from Rail Vikas Nigam Limited (RVNL) for the BharatNet Phase-III project. The stock opened at ₹197 per share on June 18, up from the previous close of ₹190, and touched an intraday high of ₹199. This contract marks a significant order win for HFCL in the government-backed broadband infrastructure initiative, according to livemint.com.
The order from RVNL, a government enterprise responsible for implementing rail infrastructure projects, is part of the BharatNet Phase-III rollout aimed at expanding high-speed internet connectivity across rural India. HFCL will be responsible for deploying optical fiber networks under this phase. The company’s share price reaction reflects investor confidence in its role in this large-scale digital infrastructure project, as reported by thehindubusinessline.com.
BharatNet is one of India’s largest rural broadband projects, targeting connectivity for over 2.5 lakh gram panchayats. HFCL’s ₹2,666 crore contract is among the largest awarded under Phase-III, highlighting the company’s growing presence in the telecom infrastructure sector. This deal follows other major contracts HFCL has secured in recent years, positioning it as a key player in India’s push for digital inclusion, according to thehindubusinessline.com.
HFCL’s next financial results, due in the coming quarter, will provide further clarity on the impact of this contract on its revenue and order book. The company’s share price movement on June 18 reflects market optimism about its execution capabilities and growth prospects in government infrastructure projects, as noted by livemint.com.