New Delhi, Oct. 16 -- Domestic brokerage firm, Nuvama Institutional Equities has initiated coverage on HFCL with a 'buy' rating, citing the company's shift towards telecom and networking products, its order book, capital expenditure programme and growth opportunities in data centres and defence, Business Today. Mint couldn't independently verify the report.

According to Nuvama Institutional Equities, HFCL has pivoted decisively from turnkey contracts to telecom and networking products (83% of Q1 FY27 revenue versus 27% in FY21).

It is well poised to ride on data center buildouts globally, backed by record order book, capex program and robust execution capability (reflected in order wins). Moreover, HFCL's defence scale-up creates a valu...