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<ul><li>Shares of <keyword id="1061730" type="COMPANY" weightage="20" keywordseo="Himachal-Futuristic-Communications">Himachal Futuristic Communications</keyword> have surged significantly by 497% from March 2020.</li><li>The largest provider of WiFi solutions says the disruptions caused by COVID-19 pandemic have increased the demand for home and industrial internet of things (IoT) devices and applications.</li><li>HFCL’s profit after tax grew to ₹90.69 crore in June quarter as compared to ₹21.34 crore in corresponding quarter last year. </li></ul>While the pandemic slowed business for sectors like aviation, automobile, and hospitality, some sectors related to information technology enjoyed a boost due to the digital transformation demand. Himachal Futuristic Communications (HFCL) is one such company that benefited enormously from the heightened demand for internet devices. The technology enterprise company manufactures high-end transmission and access equipment, optical fibre and optical fibre cables used in WiFi portals and creating communication networks for telecom service providers, railways, defence, and smart city and surveillance. In fact, it is one of the largest providers of WiFi solutions. Also, the company is likely to be a big player in 5G telecom services. The disruptions caused by the pandemic have increased the demand for home and industrial internet of things devices and applications, said the company in an investor presentation. The company has already shipped 1.5 lakh units of wi-fi and ultra broadband radio to leading telecom service providers in FY21. In fact, under Bharat Net phase II project, wi-fi, infrastructure, electronics and optic networks brings out an ₹40,000 crore opportunity for the company <div type="image" title="HFCL profit revenue" height="900" width="1200" msid="84470091" hostid="261"></div> The company serves technological equipment and services to Reliance Jio, Tata, Airtel, Vodafone, Nokia, BSNL, Larsen &amp; Toubro, Bharat Petroleum, Indian Oil and many more. It has also been working with the government under the Prime Minister WiFi Access Network Interface (PM-WANI) project to provide internet access to every nook and corner of the country. “Initiative by Indian government like BharatNet, which is the world's largest optical fiber-based rural broadband connectivity project, growing usage of wifi connection in home segment, provision of production linked incentive scheme (PLI) by the government, approval of 5G spectrum plans has amplified the company’s operations,” said Mahendra Nahata, managing director of HFCL in a financial report statement. <div type="image" title="HFCL stock" height="900" width="1200" msid="84470137" hostid="261"></div> At 2:52 p.m., the stock was trading 2% higher at ₹ 80.40. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/angel-broking-shares-surge-as-rising-awareness-among-investors-turns-in-favour-of-the-stock-broker/articleshow/84469007.cms">Angel Broking shares surge 20% as rising awareness among investors turns in favour of the stock broker </a> <a href="https://www.businessinsider.in/stock-market/news/tatva-chintan-pharma-chem-ipo-should-you-subscribe-to-the-ipo-check-out-analysts-review/articleshow/84464187.cms">Tatva Chintan Pharma Chem IPO -- Should you subscribe? Here’s what analysts are saying </a>

An investment of ₹10,000 in HFCL stock in March last year is worth ₹60,000 now

The department of telecom on Thursday approved 31 proposals entailing an investment of Rs 3,345 crore over the next four and a half years. "The investment of Rs 3,345 crore in the next 4.5 years is just a beginning. Government is helping you (industry players) as a catalyst," minister of state for communications Devusinh Chauhan said. The companies selected for the <keyword id="8941225" type="General" weightage="20" keywordseo="pli-scheme" source="Orion">PLI scheme</keyword> include <keyword id="6354716" type="General" weightage="20" keywordseo="nokia" source="Orion">Nokia</keyword> India, <keyword id="281546" type="General" weightage="20" keywordseo="hfcl" source="Orion">HFCL</keyword>, Dixon Technologies, <keyword id="256305" type="General" weightage="20" keywordseo="flextronics" source="Orion">Flextronics</keyword>, <keyword id="6354671" type="General" weightage="20" keywordseo="foxconn" source="Orion">Foxconn</keyword>, <keyword id="12310778" type="General" weightage="20" keywordseo="coral-telecom" source="Orion">Coral Telecom</keyword>, VVDN Technologies, <keyword id="12224491" type="General" weightage="20" keywordseo="akashastha-technologies" source="Orion">Akashastha Technologies</keyword>, and GS India. The DoT notified the <keyword id="10781612" type="General" weightage="20" keywordseo="PLI-scheme-for-telecom" source="Orion">PLI scheme for telecom</keyword> and networking products on February 24, 2021, with a financial outlay of Rs 12,195 crore, over the five years. The scheme for telecom gear manufacturing in India is expected to encourage the production of equipment worth Rs 2.44 lakh crore and create direct and indirect employment for about 40,000 people. The investors can earn an incentive for incremental sales up to 20 times the committed investment, enabling them to reach global scales and utilise their unused capacity and ramp up production. "This is the first scheme among all PLI schemes, which includes MSMEs. Without this, we would have been handicapped," Coral Telecom managing director Rajesh Tuli said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/itc-surges-5-on-reports-of-potential-investment-from-an-e-commerce-titan/articleshow/87016393.cms">ITC surges 5% on reports of potential investment from an e-commerce titan</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/urban-company-has-announced-a-12-point-agenda-to-improve-partner-earnings-after-over-100-workers-protest/articleshow/87015949.cms">Urban Company has announced a 12-point agenda to improve partner earnings after over 100 workers protest</a>

Nokia, Foxconn among global firms to benefit from India's telecom PLI scheme of ₹3,345 crore

<keyword id="166412" type="COMPANY" weightage="20" keywordseo="International-finance-corporation">International Finance Corporation</keyword> (<keyword id="85860" type="COMPANY" weightage="20" keywordseo="IFC">IFC</keyword>) plans to invest $100 million in secured debt of Hero <keyword id="1497430" type="DOMAIN" weightage="20" keywordseo="Fincorp-Ltd">Fincorp Ltd</keyword> belong to the <keyword id="46577" type="COMPANY" weightage="20" keywordseo="Hero-group">Hero Group</keyword>. <keyword id="1391131" type="COMPANY" weightage="20" keywordseo="Hero-FinCorp">Hero Fincorp</keyword> is primarily into financing of two-wheeler purchases, loans to micro, small and medium enterprises (<keyword id="6358354" type="COMPANY" weightage="20" keywordseo="MSME">MSME</keyword>), personal loans, used car purchase loans and corporate loans, IFC said. According to IFC, the proposed investment will enable Hero Fincorp to expand is loan book across its business verticals. The company will also deploy three times its loan amount, through its own resources and other sources of funding, towards the same target beneficiaries over the next three years, IFC added. According to IFC, the consolidated loan portfolio composition of Hero Fincorp includes two-wheeler finance (37 per cent), used car finance (7 per cent), personal loans (11 per cent), home loans (6 per cent), MSME loans (21 per cent) and corporate loans (18 per cent). The shareholders of Hero Fincorp include Hero MotorCorp Limited (41.2 per cent), investment companies of the Munjal family (38.3 per cent), <keyword id="48085" type="COMPANY" weightage="20" keywordseo="Credit-Suisse">Credit Suisse</keyword> (2 per cent), Chrys Capital (10 per cent) and Apis Growth (2 per cent) and <keyword id="281546" type="COMPANY" weightage="20" keywordseo="HFCL">HFCL</keyword>'s dealers/employees (6.5 per cent). SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/nokia-x20-specifications-nokia-new-phones-price-in-india/articleshow/81981039.cms">Six new Nokia smartphones announced – price, specifications and availability details you should know</a> <a href="https://www.businessinsider.in/business/startups/news/founders-take-note-heres-why-most-startups-fail/articleshow/81981138.cms">Founders, take note: here’s why most startups fail</a> <a href="https://www.businessinsider.in/tech/apps/news/google-phone-app-now-lets-you-record-calls-automatically-from-unknown-numbers/articleshow/81982791.cms">Google Phone app now lets you record calls automatically from unknown numbers</a> <a href="https://www.businessinsider.in/business/startups/news/adar-poonawalla-serum-institute-of-india-has-bought-stake-policybazaar/articleshow/81985425.cms">Serum Institute of India buys into IPO-bound insurance unicorn PolicyBazaar, as True North sells part stake in secondary sale</a>

International Finance Corporation proposes to invest $100 million in Hero Fincorp's secured debt

<ul><li>The SGX Nifty was trading 0.67% lower at 7:45 am, indicating a subdued start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Despite positive cues from the western markets, the Indian equities may open on a cautious note on Tuesday. The SGX Nifty was trading 0.67% lower at 7:45 am, indicating a subdued start for Nifty50. However, the <a href="https://www.businessinsider.in/stock-market/news/dow-closes-835-points-higher-after-hitting-intraday-record-on-pfizer-vaccine-enthusiasm/articleshow/79139613.cms">U.S. stock markets soared on Monday</a>, the progress in the development of a COVID-19 vaccine was all that investors needed to hear to help propel stocks to hit new heights. The Dow Jones Industrial Average closed 835 points higher after hitting an intraday record on Pfizer vaccine news, and the S&amp;P 500 gained 1.17%. These are the stocks to watch out for during the trading session on November 10: Pfizer Limited <a href="https://www.businessinsider.in/science/health/news/pfizers-covid-19-vaccine-is-90-effective-in-preventing-coronavirus-in-those-who-havent-been-infected-ever-before/articleshow/79130097.cms">Pfizer says an early peek at its vaccine</a> data suggests that its shots prevented more than 90% of symptomatic infection, indicating the company is on track later this month to file an emergency use application with U.S. regulators. The shares of Pfizer Limited ended 0.19% higher on Monday. <keyword id="45123" type="CITY" weightage="20" keywordseo="HDFC">HDFC</keyword> Mortgage lender HDFC has reduced its retail prime lending rate (RPLR) on housing loans by 10 basis points (0.10%). The change will benefit all existing HDFC retail home loan customers, it added. The shares of HDFC ended 0.82% higher on Monday. <keyword id="281546" type="COMPANY" weightage="20" keywordseo="HFCL">HFCL</keyword> HFCL has received a letter of award worth ₹678.50 crore from L&amp;T for the supply of I.T. equipment, software solutions and associated equipment. The project is expected to be completed by April next year. The shares of HFCL ended flat on Monday. Tata Consultancy Services Tata Consultancy Services (<keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword>) and Deutsche Bank AG announced an agreement, under which TCS will acquire 100% shares of Postbank Systems AG (PBS) from the latter. PBS is the full-range captive I.T. service provider that provides project management, application management and infrastructure support services to Postbank and other subsidiaries of Deutsche Bank. PBS has around 1,500 employees and they will become a part of TCS after acquisition. The shares of Tata Consultancy Services ended 0.69% higher on Monday. Engineers India Engineers India board is slated to meet on November 12 to consider buyback of equity shares. The shares of Engineers India ended 0.59% lower on Monday. <keyword id="105311" type="COMPANY" weightage="20" keywordseo="INOX-Leisure">Inox Leisure</keyword> The cinema giant Inox Leisure has launched qualified institutional placement (QIP) at ₹263.1 per share. The floor price is set at a 1.42% discount to Monday’s closing price. The shares of Inox Leisure ended 0.53% higher on Monday. Oil India State-owned oil and gas explorer Oil India Ltd (OIL) on Monday reported a net profit of ₹238.95 crore during the second quarter compared to a net loss of ₹248.61 crore during the sequential quarter. The earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin reduced to 37.21% in Q2 from 43.39% in the same quarter last year. The shares of Oil India ended 0.69% higher on Monday. <keyword id="105485" type="COMPANY" weightage="20" keywordseo="GAIL-India">GAIL India</keyword>, Mahindra &amp; Mahindra, Hindalco Industries, Tata Power and GMR Infrastructure GAIL India, <a href="https://www.businessinsider.in/business/auto/news/mm-q2-earnings-tomorrow-profit-likely-to-fall-19-percent-but-tractor-sales-may-help-revenue/articleshow/79129620.cms">Mahindra &amp; Mahindra</a>, Hindalco Industries, Tata Power and GMR Infrastructure are the companies among others that are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/pfizers-covid-19-vaccine-is-90-effective-in-preventing-coronavirus-in-those-who-havent-been-infected-ever-before/articleshow/79130097.cms" data-type="tilCustomLink">Pfizer’s COVID-19 vaccine is 90% effective in preventing coronavirus in those who haven’t been infected ever before, shows data from latest trials</a> <a href="https://www.businessinsider.in/business/auto/news/mm-q2-earnings-tomorrow-profit-likely-to-fall-19-percent-but-tractor-sales-may-help-revenue/articleshow/79129620.cms" data-type="tilCustomLink">Strong tractor sales may cushion M&amp;M’s revenue but profit is likely to remain under pressure, say analysts</a>

Top stocks to watch — Pfizer, HDFC, TCS, HFCL, Inox Leisure, M&M, GAIL India, Oil India and others

New Delhi, Feb 27 () Telecom equipment maker HFCL Ltd on Thursday said it has signed an agreement to acquire up to 47.87 per cent stake in Chennai-based BigCat Wireless in a Rs 22.5 crore deal. HFCL Ltd (formerly Himachal Futuristic Communications Ltd) had signed a term sheet in January for the said transaction. BigCat is engaged in development of product and technologies in wireless communication domain. It provides design services for wireless technologies for development of advanced wireless products, systems and solutions. "...the company has now signed a share subscription and purchase agreement on February 26, 2020 with BigCat Wireless...and the promoter shareholders of BigCat," HFCL said in a regulatory filing on Thursday. HFCL intends to acquire up to 47.87 per cent of the paid-up equity share capital (on a fully diluted basis assuming all securities and options to be issued to employees are fully converted) of BigCat in various tranches by way of subscribing/purchasing its equity shares at a total cash consideration of Rs 22.50 crore. Also, HFCL shall exercise voting rights up to 50 per cent in BigCat, post-acquisition of the equity stake. The filing said that 4G and 5G wireless products, and wireless products for critical applications are under advance stage of development.BigCat had a turnover of Rs 7.57 crore in 2018-19.The acquisition would help HFCL to competitively address business of next generation wireless products, the filing said. SR SR MRMR

HFCL inks agreement to acquire up to 47.87 pc stake in BigCat

New Delhi, Dec 31 () Realty firm RSP Developers is investing Rs 400 crore to develop a commercial project in Gurugram, Haryana, where corporates can set up their research and development (R&amp;D) centres, a top company official said on Tuesday.
 The company has already developed and leased 1.15 lakh sq ft space to BMW Group in this 12-acre project 'e-novation Centre' comprising a total of 8 lakh sq ft area.
 "We are developing a commercial complex in Gurugram dedicated for R&amp;D and training purposes," RSP Developers MD Satya Priya Yadav said.
 He said this is possibly the first project in the national capital region (Delhi-NCR) for setting up of R&amp;D and innovation labs, incubators, accelerators, centres of excellence, IT/ITeS units and training centres.
 "The first block is already operational and occupied by BMW Group. We have completed two more blocks comprising 3.5 lakh sq ft area and the leasing process has started," Yadav said,
 The BMW Group training centre is one of the largest automobile training centre in the country, he added.
 The remaining three blocks/towers, comprising nearly 3.5 lakh sq ft, would be completed in the next two years.
 Asked about the investment, Yadav said the total project cost is estimated at around Rs 400 crore including land cost.
 At present, he said the rentals are in the range of Rs 65-85 per sq ft a month in this region, depending on the facilities.
 Yadav expressed confidence that the company would be able to lease the 3.5 lakh sq ft area over the next six months. It has roped in international property consultants to help in leasing process of this LEED (Leadership in energy and environmental design) certified green commercial complex.
 "Gurugram has begun to give competition to Bengaluru as a preferred destination for R&amp;D and tech companies. Till recently, the focus for R&amp;D in India was in the south - Bengaluru, Hyderabad, Chennai and Pune," he said.
 RSP Developers, which was founded in 1996, has developed over a million square feet of office space in Gurugram. Its client list includes BMW Group, Encore, Droom, IFF, Koovs, HFCL Infotel, Swiggy, Exicom, Orange, Punj Lloyd, Tellabs and Fibcom. MJH RUJ
RUJ

RSP Developers investing Rs 400 cr for commercial complex in Gurugram

Government-run telecom company <a href="http://www.businessinsider.in/latest/bsnl-has-just-reported-5-8profit-has-the-service-actually-improved/articleshow/56855538.cms">BSNL </a>has set aside a huge fund of around Rs 4,300 crore for capital expenditure in this fiscal, and has also planned to have 75,000 wifi hotspots in the country by end of the next fiscal. 
 
Also read: <a href="http://www.businessinsider.in/BSNLs-workforce-may-go-down-by-7-in-2017-18-Heres-why/articleshow/55110349.cms">BSNL’s workforce may go down by 7% in 2017-18. Here’s why</a> 
 "<keyword id="30351" type="CITY" weightage="100" keywordseo="BSNL">BSNL</keyword> presence is must for healthy competition in the industry and benefit of consumers. They have installed around 5,000 wifi hotspots, going to install 35,000 more wifi hotspots this fiscal and planning another 35,000 to provide quality service to consumers," Telecom Minister <keyword id="6357016" type="PERSON" weightage="100" keywordseo="Manoj-Sinha">Manoj Sinha</keyword> said at a book release and network expansion function of the company. 
 
He added that the country has seen <a href="http://www.businessinsider.in/tech/mobile/promotional-plans-help-retain-customers-but-telecom-companies-lose-revenue-says-dot/articleshow/58060673.cms">fierce competition </a>between leading telcos, and BSNL has been very <a href="http://www.businessinsider.in/latest/unlimited-calls-2gb-data-per-day-bsnl-seems-to-follow-jios-steps/articleshow/57685871.cms">competitive and supportive </a>for consumers throughout the battle. 
 
"If we see data usage of past few days in the country, I believe we may have surpassed data usage level by consumers in the US and China. People were paying earlier Rs 200 per GB for data and now they are getting 1 GB for around Rs 10. This is good for consumers," Sinha added. 
 As per BSNL Chairman and MD <keyword id="2216779" type="PERSON" weightage="100" keywordseo="Anupam-Shrivastava">Anupam Shrivastava</keyword>, they have installed around 5,000 wifi hotspots in partnership with two private companies, and would be investing Rs 600 crore this fiscal for next 35,000 wifi hotspots. 
 
Also read: <a href="http://www.businessinsider.in/Reliance-Jio-to-install-45000-mobile-towers-in-6-months-for-good-consumer-experience/articleshow/55208792.cms">Reliance Jio to install 45,000 mobile towers in 6 months for good consumer experience</a> 
 
"L&amp;T has won contract for rolling out 20,000 wifi hotspots and HFCL will install another 15,000 hotspots. We have provision for 100% expansion of wifi hotspots in next fiscal too but the cost will be less," Shrivastava said. 
 
"We have total capex plan of about Rs 4,300 crore for this fiscal. We are annually spending around Rs 4,000 crore in capex from our own resources. This does not include funds that we get from the government for other projects," he added. 
 
(Image source Goa Prism)

BSNL sets aside Rs 4,300 cr for this fiscal; plans 75K WiFi spots

Local <keyword id="6354776" type="COMPANY" weightage="60" keywordseo="Telecom">telecom</keyword> gear-makers want the <a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi">Modi</a> government to offer ‘infrastructure’ status to them. They also want <a href="http://www.businessinsider.in/searchresult.cms?query=Finance+Minister+Arun+Jaitley">Finance Minister Arun Jaitley</a> to extend tax sops under Section 35AD for domestic manufacturers. 
 
The Telecom Equipment Manufacturers Association of India (TEMA) that represents local <a href="http://www.businessinsider.in/searchresult.cms?query=telecom">telecom</a> product makers wants the government to levy a 5% cess on telcos to build a corpus for funding local telecom R&amp;D and IPR creation. 
 
Key TEMA members include Bharti Teletech, C-DoT, Bharat Electronics, Sterlite Technologies, HFCL, Lava Mobiles, ITI, Birla Ericsson Optical and United Telecom among others. 
 
"Infrastructure status to domestic <a href="http://www.businessinsider.in/searchresult.cms?query=telecom+equipment+manufacturing">telecom equipment manufacturing</a> companies complying with PMA provisions will help the industry to benefit from the incentives," the TEMA chairman Emeritus N K Goyal has said. 
 
TEMA has also asked for an extension of tax sops under Section 35AD to local telecom gear makers complying with PMA norms. This is expected to boost local manufacturing of electronics and telecom gear. It has also sought imposition of 25% duty on telecom/ICT products under the `Others' category that are now being imported at zero duty. 
 
Image credit: Indiatimes

You Searched For "HFCL" and got 8 results

An investment of ₹10,000 in HFCL stock in March last year is worth ₹60,000 now

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