Sandeep Tandon of Quant Mutual Fund remains bullish on optic fiber/data center theme companies like HFCL, citing global fiber shortage

Mon 5 Oct 2026

HFCL market cap

38,000-40,000 crore rupees

HFCL FY26 profit

330 crore rupees

Heard on business television between 15:04:40 - 15:07:40 IST.

• Tandon called fiber optic a classic AI theme playable in India with limited stock options.
• He said there is a global shortage of fiber optic capacity, not just in India, and expansion (greenfield/brownfield) will take one to three years, so shortage could last three to five years.
• He said margins have improved from 6-7% to 30% in some names and many companies now have over 90% export share, changing sector dynamics.
• He noted HFCL's market cap was around Rs 38,000-40,000 crore versus FY26 profit of about Rs 330 crore, but said markets are forward-looking and reflect expectations for next 3-5 years, not trailing numbers.
• He said these stocks are at an early stage of re-rating, not at peak or over-ownership stage, unlike some new-age companies with rich valuations.

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