Maithan Alloys Acquires HFCL Stake Worth ₹50 Crore; Shares Decline 1.99%

Mumbai, June 10: Maithan Alloys has acquired equity shares of HFCL Limited through stock exchange transactions as part of its long-term investment strategy.

The company disclosed the development through an exchange filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

According to the filing, Maithan Alloys acquired 2,753,500 shares representing 0.18% equity stake in HFCL on June 9, 2026.

The total acquisition cost stood at ₹50.04 crore and the transaction was completed through cash consideration via stock exchange purchases.

The company clarified that it does not intend to acquire control or management rights in HFCL either directly or indirectly.

Stock Market Snapshot

Maithan Alloys share price traded lower following the disclosure of the investment transaction.

The stock was trading at ₹982.10, down 1.99%, as of 13:17 IST on June 10, 2026, according to market data.

Maithan Alloys share price remained under pressure during the session amid broader market weakness in metal and industrial counters.

Investors continued to monitor corporate treasury investments and strategic stake acquisitions by listed companies amid increasing participation in telecom, infrastructure and technology-linked sectors.

HFCL Operates In Telecom Infrastructure Segment

HFCL operates in the telecom infrastructure and technology solutions segment with business interests across optical fibre, telecom equipment and defence communication systems.

According to the filing, HFCL reported turnover of ₹4,528 crore, profit after tax of ₹253 crore and net worth of ₹4,727 crore as of March 31, 2026.

The company also disclosed that HFCL’s manufacturing and operational footprint is based in India.

Maithan Alloys stated that the investment aligns with its objective of generating long-term investment returns through exposure to technology and infrastructure-linked businesses.

Investment Made Through Open Market Transactions

The acquisition was carried out through stock exchange purchases and does not fall under related party transactions, according to the filing.

The company also clarified that promoter and promoter group entities do not have any interest in the acquired entity.

Corporate investments into listed telecom and infrastructure companies have remained in focus as digital connectivity, fibre deployment and defence communication infrastructure continue to attract long-term capital interest.

Source:

• https://www.nseindia.com/get-quote/equity/MAITHANALL/Maithan-Alloys-Limited
• https://nsearchives.nseindia.com/corporate/MAITHANALL_10062026123335_HFCL.pdf