Shares of HFCL fell as much as 5% to an intraday low of Rs 201 on the BSE on Thursday, extending losses for a second straight session. The stock has now declined 6.6% over the last four trading sessions after an exceptional rally that made it the best-performing smallcap stock this year, with gains of 212%.
The recent weakness comes despite a notable improvement in the company's fundamentals. HFCL has been witnessing a strong earnings turnaround, supported by better capacity utilisation and a richer product mix. The latest decline, however, appears to reflect profit-booking following the sharp run-up in the stock.
