HFCL SET TO ENTER DEFENSE SECTOR FROM IT'S NEW ANDHRA PRADESH MANUFACTURING COMPLEX

is eyeing a big opportunity in the defence and aerospace segments and it's upcoming facility in Andhra Pradesh will significantly strengthen its position in this sector. The company recently acquired a 1,000-acre land parcel in the southern state to develop the facility, which will produce artillery shells, multimodal grenades and other military ammunition. As India intensifies its push for indigenisation in defence manufacturing, the timing for this decision is ideal. The company's stock price hit it's all time high of Rs 170 per share in Sept24 and have thereafter seen a correction of 55% currently trading at 75 per share. Once this new unit start's defense production, the company's revenue and net profit can see a significant surge.