HFCL shares hit lower circuit after 240% rally in 2026. What technical charts now indicate

Shares of HFCL dropped 5% to hit the lower circuit on Thursday, extending a 7% fall in two days as investors may have resorted to profit booking after the multibagger stock delivered a whopping 240% return so far in 2026.

HFCL shares dropped to Rs 233.16 on NSE on Thursday. Despite the recent decline, the stock has gained around 7% in a week and 10% in a month. Over the past year, the optical fibre manufacturer’s shares have surged more than 230%.

HFCL on Saturday released its annual report for FY26, reporting a sharp expansion in its order book and strong financial performance. The company’s FY26 order book stood at Rs 21,206 crore, marking a sharp 113% year-on-year increase and signalling robust business momentum across its key segments.


Also read | What's driving up to 705% multibagger run in HFCL, Sterlite Tech shares?

The annual report also highlighted strong growth across HFCL’s financials. Its revenue from operations increased nearly 22% year-on-year to Rs 4,949 crore, while EBITDA surged more than 63% YoY to Rs 827 crore. Profit after tax sharply surged more than 90% YoY to Rs 329 crore, while earnings per share (EPS) rose 73% YoY to Rs 2.13, reflecting the company’s improved profitability during the year.

Technical view on HFCL share price

HFCL has been consolidating in a 257–218 range since the beginning of September, Sudeep Shah, Vice President of Technical and Derivatives Research at SBI Securities, noted. He added that this consolidation follows a strong up move after the stock broke out of a downward-sloping trendline in early April.

The 34-day EMA has continued to act as a dynamic support, while the stock remains above key moving averages, keeping the broader trend positive, the analyst said, adding that the technical indicators currently point towards a sideways bias.

“Such consolidation following a strong up move is a normal technical pattern and can provide a base for the next directional move. A decisive breakout on either side of the 257–218 range will provide further directional cues,” Shah concluded.

Also read |HFCL's FY26 order book surges 113% to Rs 21,206 crore

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