HFCL stocks surged by 1% on the BSE
According to the Bombay Stock Exchange (BSE), on Tuesday, the HFCL stocks have increased by 1%. Besides, the company would buy a 47.9% stake in Bigcat Wireless for Rs 22.5 crores.
Moreover, the company made sure it has signed a term sheet. So then, this term sheet consists of Bigcat Wireless Private Limited. Also, the existing promoters of BIGCAT might get up to 47.87% of the diluted paid-up equity share capital. However, in different tranches, by the way of subscribing its equity shares at Rs 22.50 crores might vary.
Besides, under the term sheet, BIGCAT might carry out the development of advanced wireless communication. Wherefore, the advanced wireless communication products include 4G & 5G wireless products. Moreover, the company would have the right to manufacture as well as sell the products. The company might also own IPR rights of certain products.
Presently, the company HFCL Ltd. stood at an increased trade of Rs 17.05 by Rs 0.1 or 0.59% from its previous closing of Rs 16.95 on the Bombay Stock Exchange (BSE).
Also, the scrip remained opened at Rs 17.45. Besides, the scrip also reached a high and low of Rs 17.45 and Rs 17.05 respectively.