HFCL shares gained over 4 per cent in early trade on Thursday after the company announced that it had secured a major contract from Rail Vikas Nigam Ltd (RVNL) for the BharatNet Phase-III project.

The stock rose as much as 4.6 per cent to ₹198.90 on the NSE, compared with its previous close of ₹190.13. At 10.18 am, the stock was trading at ₹195.82.

RVNL shares traded flat at ₹246.50 at the time of writing.

According to the company’s stock exchange filing, HFCL has been awarded a contract worth ₹2,666.1 crore by RVNL for the BharatNet Phase-III project in the Uttar Pradesh telecom circle.

The contract encompasses the supply of telecom equipment and related accessories, along with installation and commissioning. It also includes the creation of an optical fibre cable telecom network and maintenance of the project for a period of 10 years, including a one-year warranty period, the company said in the filing.

The latest order comes in addition to the ₹2,167.65 crore contract awarded to HFCL by RVNL for BharatNet Phase-III projects in the Uttar Pradesh (East) and Uttar Pradesh (West) telecom circles, which the company had disclosed to stock exchanges on January 23, 2025.

HFCL said the order further strengthens its position in the telecom network domain and reflects its continued focus on executing large-scale digital connectivity projects across the country.

Published on June 18, 2026