Yesterday, after market hours, HFCL announced that it has received purchase orders worth Rs.558 crore from Bharat Sanchar Nigam Limited (BSNL) for PAN Indian Defence Communication Network.
It is to be delivered 18 months from the date of issue of Radio in brief Frequency Link Freezing Letter to be issued by BSNL.
The total order of Rs.558 crore is divided into A and B wherein A consists of Rs.327 crore for material cost, Rs.127 crore for services cost and Rs.70 crore for seven years Annual Maintenance Cost post Warranty period of three years.
B consists of Rs.15 crore for material cost, Rs.14 crore for services cost and Rs.5 crore for seven years Annual Maintenance cost post Warranty period of three years.
The stock price has reacted positively to this news today with the stock figuring among the top five gainers on the BSE. The price rose 5.5% to its intra day high at Rs.20. Its 52-week high is at Rs.36.65.