HFCL at 103x P/E: Does a Rs 21,206 cr order book justify the 268% rally?
HFCL Ltd hit a 52-week low of Rs 59.83 on January 23, 2026. By June 22, 2026, about five months later, it had touched Rs 220.10, gaining 268 per cent . The stock continues to trade near that peak at around Rs 215, delivering multibagger returns of 202 per cent over the last three months and 146 per cent over one year. A move of this magnitude raises one question that deserves a direct answer: what exactly changed?
