India's HFCL jumps on defence foray with surveillance radars

HFCL

15/12/2023 08:23

** Shares of HFCL  HFCL.NS  rise as much as 11.14%, biggest
intra-day percentage rise in four months, to 75.30 rupees
    ** Telecom infrastructure components co, through its unit,
Raddef Pvt, foray into defence sector
    ** Raddef has designed a range of surveillance radars with
high accuracy, low power consumption, navigation and ground
surveillance features
    ** HFCL is also developing drone detection radars
    ** The global markets for surveillance radars is likely to
rise to $12 billion per annum by 2030 from $6.87 billion, now -
HFCL
    ** Trading volume of HFCL is 52.19 mln shares as of 1:37
p.m. IST, 9.2x the 30-day avg - LSEG data
    ** HFCL shares up 10% YTD
    
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))