HFCL shares hit upper circuit for 2nd straight day amid weak overall market

The stock is up 5% to ₹209.61 apiece on the NSE. Notably, this is also the company's 52-week high mark.

The market capitalisation stood at ₹32,082.96 crore.

The scrip had recorded a 52-week low of ₹59.82 apiece on January 27, 2026.

The stock has gained 21.97% in the past week and 51.70% in a month. Year-to-date, it has surged 204.14%.

The recent rally in HFCL stock comes after the company, on June 17, bagged an order valued at ₹2,666 crore from Rail Vikas Nigam Ltd (RVNL) to supply equipment for the BharatNet Phase-3 project.

In January, the company had secured a similar contract worth ₹2,167.65 crore by RVNL for BharatNet Phase-3 projects in the Uttar Pradesh (West) and Uttar Pradesh (East) telecom circles, the company said in a regulatory filing.

"The company has been awarded a contract amounting to around ₹2,666.09 crore by Rail Vikas Nigam Limited (RVNL). This contract pertains to the BharatNet Phase-3 project in the Uttar Pradesh (West) telecom circle," HFCL said in the filing.

As per the agreement, HFCL will provide telecom equipment and related accessories, which includes installation and commissioning of the project, create an optical fibre cable telecom network, and carry out the maintenance work.

The project duration is divided into 24 months of maintenance, 10 years of operation and maintenance, and a year of warranty.

The total contract price of ₹2,666.09 crore consists of capital expenses of ₹1,192.82 crore and operational expenses amounting to ₹1,473.27 crore.

Last month, HFCL had received a purchase order worth ₹135.09 crore from RailTel Corporation of India for the annual maintenance contract of the "Implementation of Secure Operations (OPS) Network" for data centres of Indian defence forces.