Tejas Networks has obtained an develop buy order of ₹ 696 crores for a Pan-India router community from Bharat Sanchar Nigam Limited (BSNL). It received this order at the same time as competing towards top-tier worldwide companies in an open tender, and emerged as the bottom business bidder.
At 01:fifty four PM, the Tejas Networks`s stocks have been buying and selling 5.02% better at ₹ 609.ninety five apiece. However, the stocks rallied 6.32% on Monday`s intraday trades to attain a excessive of ₹ 617.50 apiece. 7,60,373 stocks had modified fingers at the counter.
This is the unmarried biggest order that the organization has obtained till-date. It entails the supply, set up and fee of over 13000 of its TJ1400 collection of get admission to and aggregation routers for understanding a converged multi-provider packet community, being rolled out on a national basis. The preliminary resources and deployment are to be finished withinside the subsequent 18 months.
The Tata Group organization designs and manufactures excessive-overall performance wireline and wi-fi networking merchandise for telecommunications provider providers, net provider providers, utilities, defence and authorities entities in over seventy five countries. It is a small-cap organization with a marketplace capitalization of ₹ 9,779 crores.
The organization pronounced a internet loss of ₹10.88 crores withinside the October to December sector of 2022 (Q3FY23), towards a loss of ₹ 24.30 crores withinside the corresponding length remaining year (Q3FY22), indicating that its losses have narrowed. At the equal time, its sales expanded through a whopping 156.4% to ₹ 274.fifty five crores in Q3FY23.
According to the shareholding sample for the December sector, ace investor Vijay Kedia held a 2.3% stake in Tejas Networks, via Kedia Securities Ltd. He has 35 lakh stocks withinside the organization, and his holdings have been worth ₹ 214.00 crores as of Monday.
