Tejas Networks moves up on signing MoU with Telecom Egypt
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Tejas Networks is currently trading at Rs. 693.35, up by 6.00 points or 0.87% from its previous closing of Rs. 687.35 on the BSE.
The scrip opened at Rs. 690.25 and has touched a high and low of Rs. 697.35 and Rs. 685.50 respectively. So far 963 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 939.90 on 18-Oct-2023 and a 52 week low of Rs. 562.10 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 718.10 and Rs. 678.05 respectively. The current market cap of the company is Rs. 11733.62 crore.
The promoters holding in the company stood at 55.80%, while Institutions and Non-Institutions held 15.61% and 28.59% respectively.
Tejas Networks has signed a Memorandum of Understanding (MoU) with Telecom Egypt (TE), ITIDA (Information Technology Industry Development Agency) and NTI (National Telecom Institute) to replicate its experience of implementing Bharatnet (Rural Broadband Project) and NKN (National Knowledge Network) projects in Egypt. Other broad areas of cooperation include capacity building of Egyptian engineers and technicians on state-of-the-art telecom and networking technologies, establishing local manufacturing and R&D facilities for Fiber-to-the-Home (FTTH) products, and setting up technical support services in Egypt both for customers within the country as well as for the larger Africa and Middle East region.
It is a comprehensive agreement that seeks to promote localization of world-class communications products, inject new Indian investments into Egypt, create job opportunities, and develop research cadres in various fields of communications.
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.
