HFCL share price jumps 5% to hit 52-week high; stock soars 371% from year low: Should you buy? Key levels to watch

HFCL share price: HFCL shares extended their sharp rally on Wednesday, October 21, climbing 5% to a fresh 52-week high of ₹282.10 as investors responded to the telecom equipment maker's record quarterly performance, robust order book and optimistic growth outlook. The stock has surged 371% from its 52-week low of ₹59.83, recorded in January 2026, putting it firmly in the spotlight among momentum-driven stocks.The rally has gathered pace over recent months. HFCL shares have gained 5% in one week, 25% in one month, 23% in three months and 175% in six months.

Over the past year, the stock has advanced 271%, giving multibagger returns.The sharp appreciation follows a substantial improvement in the company's financial performance, supported by growing demand for optical fibre, telecom infrastructure, data centre connectivity and defence equipment. However, with the stock trading at record highs, investors will need to weigh its growth prospects against the risk of volatility after such a steep rally.HFCL Q2 results, order book: Why is the stock rising?HFCL reported its strongest-ever quarterly financial performance for the September quarter of FY27, with consolidated revenue climbing 143.62% year-on-year (YoY) to ₹2,541.79 crore. Consolidated profit after tax (PAT) jumped 448.14% to ₹394.22 crore, more than five times the level recorded a year earlier.For the first half of FY27, consolidated revenue rose 132.8% YoY to ₹4,456.77 crore, compared with ₹1,914.36 crore in the corresponding period last year.

EBITDA increased to ₹1,103.27 crore from ₹246.3 crore, while net profit surged to ₹639.86 crore from ₹42.62 crore.The results have strengthened expectations of sustained growth as global demand for AI infrastructure, hyperscale data centres, optical fibre solutions and defence equipment expands. HFCL's order book stood at ₹28,911 crore, providing visibility into future business execution.HFCL Managing Director Mahendra Nahata said the company expected revenue to grow by at least 80% in FY27 over FY26, supported by its existing business pipeline and growth momentum.“Demand is increasing across AI infrastructure, hyperscale data centres and telecom networks,” Nahata said, adding that international opportunities were increasingly translating into firm contracts.The combination of strong earnings growth, a substantial order book and management's upbeat revenue outlook has strengthened the investment narrative around HFCL. However, sustaining the current valuation will depend on the company's ability to execute orders, maintain profitability and deliver the growth anticipated by investors.HFCL share price target: Key support and resistance levels to watchWith HFCL trading in price-discovery territory, technical analysts are watching whether the stock can sustain its breakout while identifying potential support levels in the event of a correction.Mayank Jain, market analyst at PhonePe Invest, said HFCL's daily chart reflected a strong bullish trend following a prolonged consolidation phase below ₹80 in late 2025 and early 2026.

The subsequent breakout triggered a sharp, multi-month rally.Jain identified the ₹230-240 range as the stock's primary support zone, corresponding to a previous minor pullback area. A deeper support level lies around ₹200. With conventional resistance levels largely absent at record highs, he suggested that existing investors monitor the prevailing trend, while prospective buyers could watch for orderly corrections or consolidation near support before considering fresh positions.Hitesh Tailor, technical research analyst at Choice Broking, said HFCL had broken above its previous double-top resistance around ₹255-256, with a subsequent intraday retest attracting buying interest.

The breakout strengthened the stock's higher-high, higher-low structure.Tailor noted that the daily relative strength index (RSI) had climbed to 67.88, indicating strong upward momentum while remaining below the commonly watched overbought threshold of 70.He identified ₹250-255 as the immediate support zone. On the upside, his technical projections place the next levels at ₹273.30, corresponding to the 1.236 Fibonacci extension, and ₹292.90 at the 1.50 extension. A further extension target stands at ₹301.65.Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.