HFCL Shares Surge On Partnership With Aprecomm
Shares of HFCL rose as much as 13 percent intraday to Rs 89.40 on Wednesday after the telecom company announced joining hands with Aprecomm, an AI-powered Wi-Fi analytics technology provider.
"HFCL has announced powering its network offerings with artificial intelligence (AI) based analytics, partnering with Aprecomm," the company said in its press release.
Having successfully deployed and tested the Al-based solution in its PM-WAN I deployments, the business wants to amalgamate its analytics capabilities for a wider range of its products and solutions.
HFCL's whole IO product line will now include AI-powered network analytics, which will improve the experience for both network service providers and end-users, according to the company.
HFCL has already placed this solution in all its PM-WANI deployments, monitoring thousands of clients regularly and enabling any issue resolution with the click of a button.
“Integration of Aprecomm’s AI-powered solutions to our platform enables HFCL to offer enhanced user experience with added reliability and security to our customers. This partnership will help us to build resilient networks for people worldwide in all kinds of deployments. We are looking forward to expanding this integration to even our switching portfolio,” Mahendra Nahata, Managing Director, HFCL said.
“HFCL has already deployed this solution in all its PM-WANI deployments, monitoring thousands of clients daily and enabling any issue resolution with a click of a button. It has ensured enhanced Quality of Experience (QoE) using Aprecomm Evolv engine, which provides AI suggestions to resolve deployment issues that otherwise require human intervention,” he said.
HFCL plans to offer this AI solution to its already existing customer base for more than 100K existing deployments, with an aim to make it available for all its new customers by default, he added.
In the late intraday session, HFCL traded at Rs 87.50, up Rs 8.40, or 10.62 percent on the BSE. The HFCL stock closed the market at Rs 85.5 a share, up 8.09% from its previous close.
Currently, the shares of the stock are exchanging hands at 8.57% below their 52-week high of Rs 95.70, touched on July 6, 2021, and nearly 281% above their 52-week low of Rs 23 touched on April 12, 2021.
Equity benchmarks-- Sensex and Nifty50, were on course to end higher for the straight- fourth session, led by financial, oil & gas and metal shares.