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

New Delhi [India], September 18 : 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.