HFCL Shares Plummet to Lower Circuit Following 240% Surge in 2026: What Technical Charts Reveal Next

HFCL shares experienced a notable decline, dropping 5% to hit the lower circuit on Thursday, which extends a total fall of 7% over two days as investors are likely engaging in profit booking. This sell-off is occurring against a backdrop of impressive gains, as the stock has delivered a remarkable 240% return so far in 2026. Presently trading at Rs 233.16 on the NSE, HFCL still boasts a weekly gain of approximately 7% and increases of 10% over the past month. The stock’s performance over the past year underlines a significant upward trajectory, with an overall surge exceeding 230%.

The company recently published its annual report for FY26, showcasing strong financial health and an expanded order book which climbed to Rs 21,206 crore—a striking 113% year-on-year increase. This sharp rise suggests a vigorous business outlook for HFCL, particularly across its key segments. Financial metrics reflect this momentum, with revenue from operations rising nearly 22% year-on-year to Rs 4,949 crore and EBITDA expanding over 63% to Rs 827 crore. Correspondingly, profit after tax surged more than 90% year-on-year to Rs 329 crore, while earnings per share (EPS) increased by 73% to Rs 2.13, illustrating improved profitability across the board.

From a technical standpoint, HFCL has been trading within a consolidation range of 257–218 since early September, following a strong upward movement earlier in the year. The stock remains above its key moving averages, with the 34-day exponential moving average serving as a dynamic support level. Analysts suggest that this consolidation phase, following a significant uptrend, is typical and may set the stage for the next directional movement. A decisive breakout from the established range could yield crucial insights into the stock’s future performance.

Source: The Economic Times

(Expert Note: This intelligence brief was structured and verified by the Wealthova editorial desk.)