Shares of HFCL Ltd gained 3% on 13 March after the company announced securing a deal worth $1.1 billion (Rs 10,159 crore).

The company said that it has signed a five-year supply deal with a customer to supply high-quality, high-fibre-count optical fiber cables through its foreign wholly-owned subsidiary.

In an exchange filing, HFCL stated that a minimum of multi-million fiber kilometer (fkm) of high-quality, high-fibre-count OFC will be supplied in each calendar year beginning in 2026 and ending in 2028, with an automatic extension to two further calendar years — 2029 and 2030.

The purchase orders will be released on a regular basis throughout the contract period based on project and specification requirements, it stated.

According to the terms of the agreement, the wholly-owned subsidiary may also supply OFC to the customer’s assignees and approved affiliates.

On another front, the company announced last month that it has joined a consortium for a DoT-funded research initiative led by IIT-Delhi to enhance hollow-core fiber technology for next-generation communication networks.

At 12:20 pm, the shares of HFCL were trading 0.77% lower at Rs 73.89 on NSE. 

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