Stock Report

HFCL bags overseas contracts worth Rs. 148 crores

Posted On : 2018-12-24 08:24:05( TIMEZONE : IST )

HFCL bags overseas contracts worth Rs. 148 crores

Himachal Futuristic Communications Limited (HFCL) has been awarded two contracts totalling INR 148 crores by L&T to execute the Telecommunication Systems projects for the Mauritius Metro Express Project and for the Dhaka Metro Mass Rapid Transit System.

The Mauritius Metro Express Project is along a 26 km route that will connect Curepipe to Immigration Square in the capital Port Louis and will feature 19 stations. The Dhaka Metro Mass Rapid Transit System Project is along a 20 km route and is an elevated metro rail system with 16 Stations and a Maintenance Depot, connecting Uttara and Motijheel.

The scope of work for HFCL includes, Design, Manufacturing, Supply, Installation, Execution, Testing and Commissioning and Training for Communication Network, Control & ~onitoring (C&M) System which includes Operation Management & Control System (OMCS), Voice Communication System (VCS), Emergency Help Telephony System (EHTS), Master Clock System (MCS), Closed Circuit Television (CCTV), Passenger Information Display Signs (PIDS), Public Address System (PAS), Passenger Information Kiosks (PIK), Electronic Access Control System (EACS) and Spares.

These overseas projects are the first of their kind which have been awarded to HFCL, and are a recognition of its capability in designing, integrating, installing and commissioning complex systems in telecommunications for Railways and Metros that have to be executed within well-defined time lines and meet stringent operating conditions. It has been the endeavour of the Company to expand its business outreach beyond India and these projects will provide a foothold to access similar markets overseas.

Shri Mahendra Nahata, Managing Director of the Company said "The Company's experience from the three ongoing similar projects being executed by it for Alstom Services India Private Limited, L&T Railways Strategic Business Unit, and China Railway Signal & Communication for turnkey telecommunication systems on the Eastern and Western Dedicated Freight Corridors of Dedicated Freight Corridor Corporation of India Limited (DFCCIL) will certainly help the Company in executing the Mauritius Metro Express Project and the Dhaka Metro Project efficiently."

Shares of HIMACHAL FUTURISTIC COMMUNICATIONS LTD. was last trading in BSE at Rs.20.85 as compared to the previous close of Rs. 21.55. The total number of shares traded during the day was 1194955 in over 1353 trades.

The stock hit an intraday high of Rs. 21.65 and intraday low of 20.65. The net turnover during the day was Rs. 25122411.

Source : Equity Bulls