Shares of HFCL Ltd hit a 52-week high of Rs 117.80 on 27 February after the company announced securing an order worth Rs 40 crore.

In its regulatory filing, the company said that it had received purchase orders for a total consideration of Rs 40.36 crore for supplying optical fibre cables to one of the leading private telecom operators of India.

The company will supply different types of optical fibre cables as per customer specifications, and the order has to be executed by June 2024.

Earlier this week, the Board of Directors of the company approved the strategic expansion into Europe, setting up an optical fibre cable manufacturing facility in Poland. The Poland manufacturing unit will begin with an initial capacity of 3.25 mfkm per annum with a capital outlay of up to Rs 144 crore.

In February, the company secured a purchase order for a total value of Rs 141 crore for supplying indigenously designed and manufactured Unlicensed Band Radios and other associated services to Bharat Sanchar Nigam Limited.

At 11:26 am, the shares of HFCL were trading 0.39% higher at Rs 115.55 on NSE.