Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times
Business
Sakshi Kumari

HFCL’s AI, data centre exposure drives Nuvama’s Buy call; target implies 56% upside

Nuvama has initiated coverage on HFCL with a ‘Buy’ rating and a target price of Rs 380, against its reference price of Rs 244. The brokerage expects the company’s shift towards telecom and networking products, along with rising demand from data centres and exports, to drive strong earnings growth.

HFCL has been moving away from its earlier focus on turnkey contracts towards optical fibre, telecom products and data centre connectivity. Products accounted for 83% of revenue in Q1FY27, compared with 27% in FY21, according to Nuvama.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.