Nuvama starts HFCL at Buy, sees 56% upside to ₹380
In short
Nuvama started coverage on HFCL with a Buy rating. It set a target price of ₹380, which is 56% above the reference price of ₹244.
This matters because the broker expects telecom and networking products, data centres and exports to lift earnings. It is not stated whether HFCL will reach that target.
What the reporting says
Nuvama initiated coverage on HFCL with a Buy rating and a target price of ₹380, implying 56% upside from the reference price of ₹244. The brokerage said HFCL’s shift toward telecom and networking products, plus demand from data centres and exports, should support earnings growth. The immediate unknown is whether HFCL can deliver that expansion.
Why it matters
Nuvama initiated HFCL with a Buy rating and a ₹380 target price, implying 56% upside from ₹244. The brokerage expects HFCL’s move toward telecom and networking products, along with demand from data centres and exports, to drive earnings growth. The reporting does not provide financial results or timing for that growth, so the investment case remains forward-looking.