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HFCL up 6%, at 52-wk high on deal to supply drone parts to General Atomics
Source: Business Standard
HFCL hits 52-week high: Share of technology company HFCL soared as much as 5.71 per cent to hit a fresh 52-week high of Rs 171 per share on Monday, September 23, 2024.
The shares of HFCL rose after the company announced that it has been selected by General Atomics Aeronautical Systems Incorporated (GA-ASI), to develop and supply critical sub-systems for the US-based defence technology firm’s advanced unmanned aircraft systems.
In an exchange filing, HFCL said, “In a significant development that underscores HFCL’s technical prowess and commitment, the Company has been selected to develop and supply critical sub-systems for GA-ASI’s advanced Unmanned Aircraft Systems (UAS). This partnership marks a milestone in HFCL’s journey, as it becomes a key contributor to one of the world’s most sophisticated unmanned aerial vehicles (UAVs).”
HFCL is developing drone detection radar, which is expected to become a crucial element in modern drone detection systems.
Furthermore, the company’s ongoing research and development (R&D) initiatives encompass a wide array of radar technologies, including Ground Surveillance Radars, Weather Radars, Threat Emulators, LTE-based Passive Radars, Fog and Foliage Penetration Radars, Coastal Surveillance Radars, Avalanche Detection Radars, Muzzle Velocity Radars and Altimeters
“We at HFCL have always been at the forefront of innovation, dedicated to enhancing national security through indigenous technology solutions. Our selection by General Atomics Aeronautical Systems Incorporated to develop critical sub-systems for the UAVs is a proud moment for us and reflects our unwavering commitment to the Make in India initiative. These drones, with their versatile applications, symbolise our resolve to contribute to the defence forces with cutting-edge technology,” Mahendra Nahata, managing director of HFCL said.
Additionally, HFCL’s subsidiary, Raddef, is advancing portable and deployable radar and radio frequency solutions across diverse terrains.
HFCL specialises in creating digital networks for telecommunications, enterprises, and governments. Over the years, it has established itself as a trusted partner, providing high-tech solutions backed by strong R&D expertise.
With in-house R&D centres in Gurgaon, Bengaluru, and Hyderabad, alongside collaborations worldwide, HFCL is dedicated to innovating a range of futuristic technology products and solutions.
The company also boasts advanced manufacturing facilities for Optical Fibre and Optical Fibre Cables in Hyderabad, Goa, and Chennai, positioning itself as a preferred partner across India, Europe, Asia Pacific, the Middle East, Africa, and the USA.
At 11:08 AM, shares of HFCL were trading 2.13 per cent higher at Rs 165.20 per share. In comparison, BSE Sensex was trading 0.23 per cent higher at 84,735.39 levels.
First Published: Sep 23 2024 | 11:13 AM IST
