HFCL shares surge 32% in two weeks, here is why the stock is surging

Shares of HFCL, the Delhi-based telecom infrastructure provider, surged by their daily maximum limit 5% to hit an intraday high of ₹215.35 on Thursday, June 25. The stock has been witnessing buying interest for quite some time as it has gained as much as 32% since June 12, data from the BSE showed.

The stock has been closing higher in last eight out of 10 trading sessions, and the share has risen from ₹163.7. HFCL shares came under buying interest after the company informed exchanges that it was awarded a contract worth ₹2,666.09 crore by Rail Vikas Nigam Limited (RVNL).

The contract pertains to the BharatNet Phase-III project in Uttar Pradesh (West) Telecom Circle.

The scope of the contract includes supply of telecom equipment and related accessories with installation and commissioning, creation of optical fiber cable telecom network and maintenance of the project for a period of 10 years, including a 1-year warranty period.

"This contract is in addition to the earlier contract of ₹2,167.65 crore awarded to the Company by RVNL for BharatNet Phase-III projects in the Uttar Pradesh (East) and Uttar Pradesh (West) telecom circles which was intimated to the stock exchanges on January 23, 2025," HFCL had said in a regulatory filing last week.

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.

HFCL Q4 earnings

HFCL reported its highest-ever annual and quarterly performance in January-March quarter with order book of more than ₹21,000 crore.

The company's revenue jumped to ₹1,824 crore in Q4 from ₹800 crore in the same period last year, marking an increase of 128%.

Its EBITDA rose to ₹827 crore from ₹507 crore and EBITDA margin improved by 423 basis points to 16.7%.

HFCL's net profit in in FY26 jumped 90% to ₹329 crore compared with ₹173 crore in financial year 2025.

As of 2:08 pm, HFCL shares were locked in 5% upper circuit with a total pending buy orders of 29,20,652 shares while there were no sellers available on the exchange.