HFCL gains 3.69% on entering defence manufacturing business

Shares of HFCL Limited saw a 3.69% rise to an intraday high of ₹116.75 on Tuesday as the company announced the inauguration of an advanced defence equipment manufacturing facility in Hosur, Tamil Nadu.

The company said that the facility will produce cutting-edge defence technology, majorly HFCL’s indigenously developed Thermal Weapon Sights, High-Capacity Radio Relay (HCRR) system, Surveillance Radars, and Electronic Fuzes.

The facility has the capacity to manufacture up to 5,000 units of the Thermal Weapon Sights, 1,000 units each of High-Capacity Radio Relays and Ground Surveillance Radars, and 250,000 units of the Electronic Fuzes every year.

The company, in an exchange filing, said, "The new facility is strategically designed to meet the growing demand for high-precision defence technologies. It features a 10,000 Class and 1,00,000 Class clean rooms facility for TI Core and Thermal Weapon Sights production. With a strong focus on quality, reliability, and innovation, HFCL aims to emerge as a leader in defence technology, providing solutions that meet the stringent demands of modern military operations worldwide."

At close on Tuesday, the shares of HFCL Limited were 1.53% higher at ₹114.32 as compared to the previous close of ₹112.60 per share on the National Stock Exchange.

Summary: HFCL inaugurated an advanced defence equipment manufacturing facility based in Hosur, Tamil Nadu