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Telecom and defense solution provider company HFCL has informed that it has signed an important agreement with General Atomics Aeronautical Systems Incorporated (GA-ASI). Under the agreement, the company will work as a high-tech supplier for GA ASI. GA ASI is a US-based company and manufactures some of the most advanced unmanned aerial vehicles in the world. HFCL informed about the agreement on Sunday. The impact of this partnership can be seen on the company's stock on Monday. The stock has more than doubled the money of its investors in the last one year.
In a communication sent to the stock exchange on Sunday, the company said that it has been selected to develop and supply a very important subsystem for GA ASI's Advanced Unmanned Aircraft System. According to the company, this is a very important moment for it as it will contribute to the world's most modern UAV. The company said that it is developing a very important radar subsystem for the UAV which is very small and light. According to the company, their products are constantly proving themselves and with this the company is strengthening itself in the field of defense technology.
In Friday's trading, the stock closed at 161.75 with a gain of more than 4 percent. During trading, the stock reached a day's high of 163.4, which is also the stock's new highest level of the year. A year ago, the stock was below the level of 74, that is, the stock has seen a gain of 118 percent in a year.
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