HFCL shares rally 8%, extend gains to day 2. Here’s why

Shares of HFCL rallied around 8.2% to ₹81.36 on the BSE during Thursday’s trading session, extending gains to more than 12% over two days after the company announced that its material subsidiary HTL Limited has secured orders worth ₹1,366 crore for the supply of optical fibre cables to a renowned Tier-1 customer.

The technology company, which specialises in building digital networks for telcos, enterprises and governments, said that the domestic order is expected to be executed by December this year. “These orders reaffirm the confidence reposed by our customers in the Company’s manufacturing capabilities,” it added in an exchange filing on Wednesday.