HFCL subsidiary: According to HFCL, the size of the global surveillance radar market is expected to increase from its current $6.87 billion annual value to $12 billion by 2030.
On December 15, HFCL announced the creation of novel radar technology via its subsidiary. In response to the announcement, the company’s shares closed on December 15 at Rs 74.10, or 9% higher. Additionally, there were a lot of trades: 9 crore shares were traded, which is more than the monthly average of 72 lakh.
The technology used by these radars is called frequency-modulated continuous wave (FMCW), and it has many benefits over other radar technologies, such as high accuracy, low power consumption, and interference resistance. FMCW radars have many uses, including weather radar and navigation systems, in addition to ground surveillance for border and parametric security. The company stated in a press release that their special ability to measure distance and velocity at the same time places them as an essential technology for various modern applications.
HFCL specializes in creating digital networks for governments, businesses, and telcos. According to HFCL, the size of the global market for surveillance radars is expected to increase from its current $6.87 billion annual value to $12 billion by 2030.
HFCL reported Q2 net profits of Rs 69 crore, a 15.2 percent YoY decrease. Revenue fell to Rs 1,111.50 crore, a 5.3% decrease from the previous year.
On December 15, the closing price of HFCL’s shares was Rs 74.35, a 9.74 percent increase. The company’s shares have decreased 1.65% so far this year.
