<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

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

<img class="gwt-Image" src="/photo/33730129.cms" />NEW DELHI: Mukesh Ambani-owned <keyword id="6354504" type="UNKNOWN" weightage="80" keywordseo="Reliance-Jio">Reliance Jio</keyword> Infocomm is on a hiring spree, aiming to bring in as many as 500 telecom professionals on board in the next few months as it races towards launching its much-awaited services likely by September. 
 
"About 300 professionals will be hired for senior roles and the company has begun negotiating with circle heads of various telecom operators. It has so far hired close to seven circle heads," a person familiar with the matter told ET. 
 
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India is divided into 22 telecom circles, each comprising a city, state or, in a few cases, a group of provinces. Reliance Jio owns airwaves in all circles. 
 
Another person said the company had already hired Murali Kittu in a circle head role from the nation’s No. 1 carrier, Bharti Airtel, where he was chief operating officer for the Tamil Nadu service area. Reliance Jio had also recently brought on board Amitabh Jaipuria, former chief executive of AGS Transact Technologies, as the president of its fixed wireline business. 
 
"The company wants to roll out voice, data and provide fibre to home connectivity all at one time," the first person said. 
 
Reliance Jio didn’t respond to requests for comment. 
 
A third person told ET that Reliance Jio has ramped up hiring in the past three weeks after it was able to firm up an organisational structure. 
 "Unlike an <keyword id="6354924" type="PERSON" weightage="40" keywordseo="Idea-Cellular">Idea Cellular</keyword> which is very decentralised in decision-making, or an Airtel or a <keyword id="15492" type="CITY" weightage="40" keywordseo="Vodafone">Vodafone</keyword> which have devolved certain powers to the circle heads and so on, Jio has decided to go in for a very centralised structure," the person said. This means, most decisions at Reliance Jio will be taken at the national headquarters in Mumbai while their execution will be left to the circles. 
 
Under the overall command of Manoj Modi, a confidant of Ambani, Reliance Jio is led by group President Sandip Das, who looks after the day-to-day operations with managing director Sanjay Mashruwala mainly managing network rollout. 
 
Other key men in leadership role include Kiran Thomas, assistant vice president, and Mathew Oommen, who is president of strategy, network and products. 
 Mahendra Nahata, head of Himachal Futuristic Communications whose Infotel Broadband Services was bought over by <keyword id="6355199" type="CITY" weightage="40" keywordseo="Reliance-Industries">Reliance Industries</keyword> for its telecom foray in 2010 and renamed Reliance Jio, is also a key member of the leadership team. 
 
"While Manoj Modi looks at the business day in and day out, Mr. Ambani is also keenly involved, with progress reports and briefings coming to his desk at least once every week," a fourth person said. 
 
The company is planning to hire two sets of leaders for certain senior roles: one an Indian with specific domain knowledge and the other an expat who could advice on knowledge transfer and global best practices. 
 
According to sources, the company is considering expats for roles in technology and customer service areas, and wants to stick to Indian talent for positions in operations, sales and marketing as well as supply chain. 
 
Reliance Jio acquired pan-India airwaves in 2010 to provide high-speed Internet services, paying Rs 13,000 crore for 20 MHz in the 2300 MHz band. It had been unable to launch commercial services because of technology limitation of the frequency. 
 
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In February this year, it won airwaves in the 1800 MHz band — which is ideal for offering voice services — across 14 circles for about Rs 11,000 crore. This allows the company to offer high-speed data services on the 2300 MHz band, and fall back on the 1800 MHz for voice offerings. The 1800 MHz band can be used for data services as well. 
 Reliance Jio has been stitching up agreements with rivals Bharti Airtel and <keyword id="6368075" type="CITY" weightage="40" keywordseo="RCom">RCOM</keyword> for leasing telecom towers and using the latter’s inter and intracity fiber network, in a bid to speed up the launch of its services.

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

Bhakti Makwana

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

PTI

Reliance Jio To Hire 500 Professionals; Plans To Launch Services By September

Economic Times