HFCL shares rally 15% in 3 sessions; analysts flag Rs 260 resistance, consolidation risk

As per the latest business developments, HFCL shares advanced nearly 4% on Thursday, extending their surge for the third straight session, even as the broader market remained under pressure.

The stock opened at the day's upper circuit of Rs 238.37 on the NSE in morning trade and was later trading at Rs 236, up 3.96%, at 2:15 pm. With Thursday's upside, HFCL shares have risen more than 15% during the past three sessions, while trading volumes surged to around 16 million shares on the NSE from 3.4 million in the previous session.

HFCL has delivered firm upside across time frames. The stock has risen around 13% in the past week and 12% over three months, while it has surged 227% in six months and more than 223% in a year. It hit a 52-week high of Rs 257 in August 2026, compared with a 52-week low of Rs 59.83 in January.

The stock has additionally been placed under Long-Term Additional Surveillance Measure Stage 4 (LT ASM-4), a regulatory framework used to monitor stocks showing abnormal price volatility, high concentration or heavy speculation.

On the technical front, Hitesh Tailor, Technical Research Market observer at Choice Broking, stated HFCL keeps maintain a broader elevated high-elevated low structure on the daily chart. After forming a Double Top near Rs 255-256, the stock retraced towards the 0.618-0.79 Fibonacci retracement zone and the 100-day EMA, where it found buying interest.

"Rebounding strongly off this confluence zone, the stock formed a Daily Bullish Engulfing candle pattern, signaling firm buying interest at softer marks," Tailor stated.

He noted that improving volumes have further noted conviction to the recovery, while the RSI has rebounded and is holding above the midpoint at 58.76. Tailor sees backing at Rs 215-220 and immediate resistance at Rs 255-257.

That stated, Jigar S Patel, Senior Manager – Technical Research at Anand Rathi Share and Stock Brokers, stated HFCL is showing signs of losing momentum on the elevated side, with the weekly chart indicating a slowdown in the prevailing uptrend. He anticipates the stock could enter a consolidation or earnings-booking phase.

"The immediate backing is placed near Rs 220, which will be an important level to monitor. As long as this backing holds, the broader structure may stay range-bound. On the upside, Rs 260 acts as the key resistance. A decisive breakout above Rs 260 would be required to revive stronger bullish momentum," Patel stated.

HFCL recently went ex-dividend for its Rs 0.20 final dividend per share for FY26, with September 22 as the ex-dividend and record date. The firm held its 39th Annual General Meeting on September 29, where shareholders approved the dividend along with other resolutions.