HFCL shares surge 9% after exit from F&O, but stock set for worst year since 2008

Shares of HFCL are up nearly 9% on Wednesday, December 31, marking the biggest single-day gain for the stock since May this year.

HFCL has gained today on very strong volumes, with over 5 crore shares being traded within the first hour, compared to its 20-day average of 95 lakh shares.

The stock is out of the Futures & Options (F&O) segment from today's trading session, meaning starting today, the stock will only trade in the cash market.

HFCL was one among the four names, along with NCC, Titagarh Rail and Cyient, which have been excluded from the F&O segment.

Despite the surge seen on Wednesday, shares of HFCL have had a disappointing 2025 so far, with the stock having declined nearly 40%.

This is the worst calendar year for the stock since 2008, when the stock had declined 78%. During these years, the stock fell for three years in a row between 2011-13, followed by negative returns in 2016, 2018, 2019, and 2022.

Shares had gained 33% last year, following a 14% advance in 2023. With the fall seen in 2025, the stock is almost back to levels last seen towards the end of 2022.

On the charts, HFCL shares continue to remain below their key moving averages, with the 50-DMA on the upside at levels of ₹71.

Shares of HFCL are trading 8.7% higher on Wednesday at ₹69. The stock is down 41% from its 52-week high of ₹40.72.