Tejas Networks soars on securing order worth Rs 7,492 crore from TCS
Tejas Networks is currently trading at Rs. 852.00, up by 36.95 points or 4.53% from its previous closing of Rs. 815.05 on the BSE.
The scrip opened at Rs. 867.00 and has touched a high and low of Rs. 869.00 and Rs. 842.45 respectively. So far 42952 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 893.00 on 20-Jul-2023 and a 52 week low of Rs. 468.00 on 16-Aug-2022.
Last one week high and low of the scrip stood at Rs. 869.00 and Rs. 797.40 respectively. The current market cap of the company is Rs. 13825.31 crore.
The promoters holding in the company stood at 55.97%, while Institutions and Non-Institutions held 14.82% and 29.22% respectively.
Tejas Networks has executed a Master Contract for supply, support and annual maintenance services of its Radio Access Network (the RAN) equipment for BSNL’s Pan-India 4G/5G network, with Tata Consultancy Services (TCS). As a part of this contract, the Company received a Purchase Order from TCS for Rs 7,492 crore (around $900 million) to supply its latest 4G/5G RAN equipment for approximately 100,000 sites, which will be executed during the calendar years 2023 and 2024. The company won this order after successfully completing extensive trials as part of a consortium led by TCS.
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.
