HFCL secures Rs 1,015 crore worth order from Madhya Pradesh; shares rise

ANI
18 Sep 2023, 16:18 GMT+10

New Delhi [India], September 18 (ANI): Technology company HFCL has secured an order aggregating to Rs 1,015 crores from Madhya Pradesh Jal Nigam. The project has to be executed within twenty-four months.

The order encompasses providing services including provision for the laying of optical fibre cables on critical and important routes, for the execution of Multi-Village Drinking Water Supply Network in the Sheopur district.

Following the successful commissioning of the project, a three-month trial run will be conducted.

Thereafter, the company has to provide operation and maintenance services for 10 years including a defect liability period of one year which will run concurrently, the company informed stock exchanges.

"The installation of optical fiber cables in these areas will also enhance the operation and maintenance of the network. This Order is expected to boost the Company's revenue and profitability," it said in the stock exchange filing.

Shares of HFCL were 3.6 per cent higher at Rs 75.50 at the time of filing this report. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Business Sun.

More Information

26 ℃

Light Rain in Seletar

Financial Markets

Section

U.S. stocks slip, dollar loses ground against commodity currencies

NEW YORK, New York - U.S. stocks weakened on Friday as U.S. Treasury yields continued to point higher while some ...

Dubai real estate market on fire, billions of dollars in transactions each week

DUBAI, UAE - The bustling real estate market in Dubai has surged to unprecedented heights, reporting transactions valued at over ...

US business optimism about China at record low: Survey

SHANGHAI, China: A survey published this week by the American Chamber of Commerce (AmCham) in Shanghai showed that political tensions ...

Stocks in U.S. and around world decline as bond yields jump

NEW YORK, New York - U.S. stocks and bonds caught on to a global trend Thursday as sellers took charge ...

Nasdaq Composite tumbles 209 points after Fed leaves rates unchanged

NEW YORK, New York - Interest rates could stay higher for longer, but there is the possibility of rate cuts ...

Amid possible Riksbank rate rise, Swedish Krona stumbles against euro

STOCKHOLM, Sweden: Days before the Riksbank, Sweden's central bank, is expected to again raise interest rates, the Swedish krona hit ...

Technology

Section