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The Economic Times
The Economic Times
Debaroti Adhikary

HFCL's X-factor is defence & aerospace? Deven Choksey sees another 66% upside potential, here's why

Deven Choksey HFCL AL NSE

Telecom equipment and optical fibre cable maker HFCL has surged 250% in just six months, but Deven Choksey Research sees another 66% upside, saying the company's defence and aerospace business is the "X-factor" that could transform its investment thesis.

The brokerage initiated coverage on HFCL with a 'Buy' rating and a target price of Rs 362 apiece, implying 66% upside potential from the stock’s previous closing price of Rs 218 apiece on NSE.

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