Shares of HFCL were trading 6% above their previous close on 18 September after the company announced securing a Rs 1,015 crore order from Madhya Pradesh Jal Nigam.
The order is for providing EPC Services that include provision for laying of optical fibre cables on critical and important routes, which is for a multi-village drinking water supply network in the Sheopur district of Madhya Pradesh.
The company will execute the project in collaboration with Khilari Infrastructure Pvt Ltd as a consortium partner.
The order is to be completed within 24 months from the date of order.
Upon the successful completion of the project, the company has to conduct a 3-month trial period, after which the company will provide operation and maintenance services for 10 years that induce the defect liability period of 1 year that will run concurrently.
In September, the company’s subsidiary received an order worth Rs 82.60 crore to supply optical fibre cables from a telecom player.
At 10:07 am, the shares of HFCL were trading at Rs 76.85 or 5.42% above its previous close on NSE.