Tejas Networks jumps on getting nod under Design-led PLI scheme for telecom & networking products
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Tejas Networks is currently trading at Rs. 686.75, up by 8.15 points or 1.20% from its previous closing of Rs. 678.60 on the BSE.
The scrip opened at Rs. 682.00 and has touched a high and low of Rs. 692.00 and Rs. 680.75 respectively. So far 20366 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 773.00 on 10-Oct-2022 and a 52 week low of Rs. 359.50 on 08-Mar-2022.
Last one week high and low of the scrip stood at Rs. 698.00 and Rs. 662.80 respectively. The current market cap of the company is Rs. 10401.22 crore.
The promoters holding in the company stood at 52.40%, while Institutions and Non-Institutions held 14.32% and 33.27% respectively.
The Department of Telecommunications (DoT) has approved Tejas Networks’ application under Government of India’s Design-led Production Linked Incentive (PLI) scheme for manufacturing of Telecom and Networking products. In its application, the company has committed to make a minimum cumulative capital investment of Rs 750 crore over the scheme period.
Tejas Networks designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defence and government entities.
