HFCL shares jump over 3% after securing Rs 2,666 crore BharatNet Phase-III contract from RVNL

HFCL shares gained more than 3% in early trade on June 18 after the company announced that it had secured a major contract worth approximately ₹2,666.09 crore from Rail Vikas Nigam Limited (RVNL) for the BharatNet Phase-III project in the Uttar Pradesh (West) Telecom Circle.

As of 9:18 AM, HFCL shares were trading higher after touching an intraday high of ₹198.90 against the previous close of ₹190.13. The stock opened at ₹197.13 and witnessed strong investor interest with a trading volume of over 58.15 lakh shares. HFCL’s 52-week high stands at ₹208.98, while its 52-week low is ₹59.82.

According to the company’s regulatory filing, the contract includes the supply of telecom equipment and accessories, installation and commissioning services, creation of an Optical Fiber Cable (OFC) telecom network, and maintenance of the network for 10 years, including a one-year warranty period.

The newly awarded project adds to HFCL’s growing BharatNet order book. Earlier, the company had received contracts worth ₹2,167.65 crore from RVNL for BharatNet Phase-III projects in the Uttar Pradesh (East) and Uttar Pradesh (West) Telecom Circles.

The execution timeline for the latest contract includes two years for project implementation, followed by ten years of operation and maintenance. The contract comprises capital expenditure (Capex) of approximately ₹1,192.82 crore and operational expenditure (Opex) of around ₹1,473.27 crore.