Indian technology firm HFCL rises on nearly $10 mln order win

HFCL

11/09/2023 10:10

** Shares of HFCL  HFCL.NS  rise 3.2% to 78.55 rupees, set
to snap three-session decline, if gains hold
    ** Telecom equipment and optical fiber cables maker bags
purchase orders worth 826 million rupees ($9.97 million) for
supply of cables to domestic telecom services provider
    ** Stock above its 50-, 100-, 200-day simple moving average
since Aug. 28
    ** More than 11.3 mln shares traded as of 2:28 p.m. IST, vs
30-day avg of over 16 mln shares
    ** Stock last up 2.1%, sending YTD gains to ~5.4%


($1 = 82.8680 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))