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The Economic Times

Debaroti Adhikary

HFCL shares drop 2% after skyrocketing 92% in one month. Time to buy or better to wait?

HFCL Geojit NSE Geojit Investments

Shares of HFCL dropped 2% on Friday to snap a five session gaining streak as investors may have resorted to profit booking after the stock skyrocketed 92% in just one month.

The share price of the manufacturer of optical fibre cables, telecom equipment and other tech products saw a massive rally this year so far. After hitting a fresh 52-week low of Rs 59.82 apiece on NSE at the end of January this year, the stock skyrocketed nearly 147% in around 16 weeks to hit a fresh 52-week high of Rs 107.10 apiece on Thursday.

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