Shares of HFCL surged 5% after the company has received a Purchase Order ("PO") worth ~Rs2,467cr from Bharat Sanchar Nigam Limited
The company received its purchase order for setting up of the Converged Nationwide IP /MPLS Backbone & Access Network tor Armed Forces under the Network for Spectrum ("NFS") Programme of the Government of India.
The scope of work under the above PO also includes Operation and Maintenance ("O&M") for 10 years including 3 year warranty period for which ~Rs862cr will be paid by the Indian Defence Services after the warranty period is over.
This Project is funded by Department of Telecom ("DOT"), Government of India and BSNL has been appointed as the nodal agency by the DoT for Project execution. As the Project has been funded by the DOT, Government of India, the timely realization against the said PO is secured the company said in the filing.
The company received its purchase order for setting up of the Converged Nationwide IP /MPLS Backbone & Access Network tor Armed Forces under the Network for Spectrum ("NFS") Programme of the Government of India.
The scope of work under the above PO also includes Operation and Maintenance ("O&M") for 10 years including 3 year warranty period for which ~Rs862cr will be paid by the Indian Defence Services after the warranty period is over.
This Project is funded by Department of Telecom ("DOT"), Government of India and BSNL has been appointed as the nodal agency by the DoT for Project execution. As the Project has been funded by the DOT, Government of India, the timely realization against the said PO is secured the company said in the filing.
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