Tejas Networks soars on receiving order of Rs 696 crore from BSNL
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Tejas Networks is currently trading at Rs. 604.65, up by 23.70 points or 4.08% from its previous closing of Rs. 580.95 on the BSE.
The scrip opened at Rs. 588.25 and has touched a high and low of Rs. 612.55 and Rs. 588.25 respectively. So far 18636 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. 385.10 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 612.55 and Rs. 562.10 respectively. The current market cap of the company is Rs. 9781.50 crore.
The promoters holding in the company stood at 51.97%, while Institutions and Non-Institutions held 15.42% and 32.61% respectively.
Tejas Networks has received an Advance Purchase Order of Rs 696 crore from Bharat Sanchar Nigam (BSNL) for the upgradation of its pan-India IP-MPLS based Access and Aggregation Network (MAAN) using its state-of-the-art routers. The company won this order while competing against top-tier global vendors in an open tender, after being technically shortlisted and upon submitting the lowest commercial bid.
As a part of this contract, Tejas will supply, install and commission over 13,000 of its TJ1400 series of next-generation access and aggregation routers for realizing a converged multi-service packet network, being rolled out on a nationwide basis.
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.
