HFCL jumps over 6% after board approves addition of manufacturing capacity at Hyderabad

Himachal Futuristic Communication (HFCL) rose over 6 percent intraday on January 8 after the board approved addition of manufacturing capacity at Hyderabad.

The company will extend optical fibre cable (OFC) at Hyderabad from 7 million Fibre Kilometer (FKM) to 10.5 million FKM where the company is already setting up optical fibre (OF) and OFC manufacturing facilities.

The stock gained as much as 6.4 percent on the BSE, quoting at Rs 22.6.

The company’s board also approved redemption of 60,37,500, 6.5 percent cumulative redeemable preference shares (CRPS) of Rs 100 each at par aggregating to Rs 60.38 crore.At 0956 hours, Himachal Futuristic Communication was quoting at Rs 22.45, up 5.65 percent.