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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

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

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

Budget 2016 – Here’s what Telecom
Gear-makers Want

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)

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

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

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

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Budget 2016 – Here’s what Telecom Gear-makers Want

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

BI India Bureau

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