India, May 14 -- Shares of a telecom infrastructure-turned-defence aspirant came into focus on Thursday morning after its board cleared the detailed plan for a greenfield ordnance manufacturing facility, filed with exchanges at the conclusion of a twenty-minute board meeting. The disclosure follows a September 2025 announcement in which HFCL had flagged its intent to enter ammunition manufacturing, making this morning's filing the formal board-level sanction with project specifics attached.

With a market capitalisation of Rs. 22,607 crore, the shares of HFCL Limited were trading at Rs. 147.70 per share, down 3.75 percent from its previous closing price of Rs. 153.46 apiece. It is trading at a P/E of 71.5.

The board has approved the esta...