HFCL shares have come under pressure after a sharp rally earlier this year, with the stock declining more than 20% over the past month. The correction has also seen the telecom equipment maker give up a part of its recent gains, even as its longer-term returns remain significantly ahead of the broader market.
Today, on Nov. 9, the stock is down 4.85% at around 10:12 a.m., trading at Rs 205.99 apiece on the NSE, compared to its previous close at Rs 216.49 apiece.
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HFCL Shares: How The Stock Has Performed
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HFCL's one-month return stood at negative 20.70%, compared with a 10.62% gain in the Nifty 50, which reflects a significant divergence in performance between the stock and the benchmark index over the period.
The correction follows a strong rally in the stock. HFCL touched a 52-week high of Rs 282.25 on Oct. 21, before witnessing a decline in the following sessions. The stock closed October at Rs 231.29, compared with Rs 227.02 at the end of September.
The broader performance, however, remains strong, with the stock gaining 199.62% in 2026 so far, against a 1.93% decline in the Nifty 50. Over one year, the stock has rallied 175.81%, while the benchmark has declined 0.31%.
HFCL Valuation: How Does It Compare With Nifty 50?
The valuation gap between HFCL and the broader market is another factor to consider. HFCL's price-to-earnings multiple stood at 34.79 times, compared with 20.61 times for the Nifty 50, reflecting that the stock is trading at a premium of around 69% to the benchmark index on the basis of the price-to-earnings multiple.
Also Read: HFCL Q2 Results: Profit Jumps Over Fivefold To Rs 363 Crore
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