Shares of HFCL Limited increased nearly 4% to Rs 76.40 in early Wednesday trading after its subsidiary received a substantial order.

According to a regulatory filing, HTL Limited, an HFCL subsidiary, has obtained contracts for optical fibre cables (OFC) worth approximately Rs 1,366 crore.

The contract is for the supply of OFC in accordance with customer specifications, and it is expected to be completed by December 2026. The entire order value includes any applicable GST, the business added.

Markets soar at open because of a truce boost, and oil slides.

Indian market benchmarks opened dramatically higher on Wednesday, with the Sensex up more than 2,500 points and the Nifty 50 up more than 750 points, as a US-Iran ceasefire spurred a worldwide risk-on rally and crude oil prices fell significantly.

At 9:16 a.m., the Sensex was up 2,563 points, or 3.4%, at 77,178, with the Nifty up 754 points to 23,877. Market breadth was firmly positive, with 2,534 equities gaining and only 166 declining. The strong start extended gains made in four consecutive sessions through Tuesday.

The rise was fueled by a great improvement in global sentiment following the United States and Iran’s agreement to a two-week truce, alleviating fears of future escalation in the Middle East and boosting investor confidence.

A crucial cause was the sharp drop in Brent crude, which plummeted to roughly $94-95 per barrel after recently rising beyond $115. The drop in oil prices is especially beneficial to India, reducing inflationary pressures and enhancing the overall macroeconomic outlook.

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