HFCL Shares Soar 5% to 52-Week High After Partnership With General Atomics for Drone Sub-Systems

HFCL’s stock price jumped over 5% to a 52-week high after the company announced a big partnership with General Atomics Aeronautical Systems (GA-ASI). The shares climbed 5.71% to ₹171 each on the BSE.

HFCL has been chosen to develop and supply important sub-systems for GA-ASI’s advanced Unmanned Aircraft Systems (UAS), which reflects India’s increasing focus on high-tech defense solutions. One of the key projects is a critical radar sub-system for drones, showing HFCL’s technical expertise. This sub-system is compact, lightweight, and meets tough military standards.

In addition to this, HFCL is also working on a Drone Detection Radar, which will be a key part of modern drone defense systems. The company’s research and development (R&D) team is working on various types of radar, including Ground Surveillance Radars, Weather Radars, and Coastal Surveillance Radars, among others.

Ex-Dividend Day

On Monday, HFCL shares also traded ex-dividend, meaning anyone buying shares after this date won’t receive the latest dividend of ₹0.20 per share. The Record Date for the dividend is September 23, 2024.

HFCL is known for building digital networks for telecom companies, businesses, and governments.

Multibagger Returns

HFCL’s share price has risen over 10% in the last month and more than 36% in the last three months. So far in 2024, the stock is up over 96%, giving investors impressive returns of over 128% in one year.

By 10:35 AM on Monday, HFCL shares were trading 2.10% higher at ₹165.15 per share on the BSE.