Emerging
Published Jun 18, 2026Updated Jun 18 Major2
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HFCL Shares Surge 3.44% After Securing ₹2,666 Crore BharatNet Contract from RVNL
HFCL's shares surged 3.44% on June 18, 2026, after the company secured a ₹2,666.09 crore contract from RVNL for BharatNet Phase-III in Uttar Pradesh (West). The contract includes telecom equipment supply, optical fiber network creation, and 10 years of maintenance. This award follows ₹2,167.65 crore in earlier RVNL contracts for similar BharatNet projects in other Uttar Pradesh regions.
Quick Facts
- HFCL secured ₹2,666.09 crore contract for BharatNet Phase-III
- Share price rose 3.44 percent
- Contract includes telecom equipment supply, installation, and commissioning
- Optical fiber cable network creation
- 10 years of operation and maintenance
Hindustan Fiber-Optic Cables Limited (HFCL) shares rose 3.44 percent on June 18, 2026, following the company's announcement of a ₹2,666.09 crore contract from Rail Vikas Nigam Limited (RVNL) for the BharatNet Phase-III project in the Uttar Pradesh (West) Telecom Circle. The share price climbed to ₹196.75 on the BSE, up ₹6.55 from the previous close of ₹190.20. This represents a significant momentum for the stock, which has advanced 165 percent over the preceding three months and 194 percent over the last six months.
The contract encompasses the supply, installation, and commissioning of telecom equipment, the creation of an optical fiber cable network, and 10 years of operation and maintenance services including a one-year warranty period. According to HFCL's regulatory filing, the ₹2,666.09 crore contract price comprises ₹1,192.82 crore in capital expenses and ₹1,473.27 crore in operational expenses. The project duration includes two years of initial maintenance followed by the extended 10-year operational period.
This latest award builds on HFCL's growing portfolio of BharatNet contracts. The company had previously secured ₹2,167.65 crore in contracts from RVNL for BharatNet Phase-III projects in Uttar Pradesh (East) and West telecom circles, which were awarded in January 2026. Combined, HFCL has now secured approximately ₹4,833.74 crore in contracts for BharatNet Phase-III initiatives across multiple Uttar Pradesh regions.
Beyond the RVNL contract, HFCL demonstrated continued business momentum in May 2026 by receiving a ₹135.09 crore purchase order from RailTel Corporation of India for annual maintenance services related to the Secure Operations Network project supporting Indian defence forces' data centres. The company's market capitalization stands at ₹29,112.06 crore, with the stock currently trading 8.91 percent below its 52-week high of ₹208.80, recorded on June 4, 2026.
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Why This Matters
This contract award signals HFCL's deepening role in India's digital infrastructure expansion through BharatNet, a critical government initiative to extend broadband access to underserved regions. For investors, the 3.44% share price surge and the company's ₹4.8+ crore cumulative BharatNet portfolio demonstrate strong revenue visibility and execution capability. The 10-year maintenance component ensures recurring revenue streams, which is strategically valuable in a competitive telecom infrastructure market.