Tejas Networks is currently trading at Rs. 103.70, up by 8.65 points or 9.10% from its previous closing of Rs. 95.05 on the BSE.
The scrip opened at Rs. 95.20 and has touched a high and low of Rs. 104.55 and Rs. 94.35 respectively. So far 144184 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 247.85 on 26-Nov-2018 and a 52 week low of Rs. 64.70 on 15-Nov-2019.
Last one week high and low of the scrip stood at Rs. 114.10 and Rs. 85.45 respectively. The current market cap of the company is Rs. 871.58 crore.
The Institutions holding in the company stood at 38.93%, while Non-Institutions held 61.07%.
Tejas Networks has signed a Memorandum of Understanding (MoU) with Bharat Electronics (BEL), India’s premier defence solution provider. The MoU envisages strategic cooperation, covering the use of Tejas’ optical transmission, access and data-switching products for domestic & export markets by jointly capitalising on the emerging opportunities in defence communication, strategic communication, smart city, homeland security, metro and state network projects under the ‘Make-in-India’ program.
The company has recently received purchase orders totalling over Rs 60 crore from BEL, towards supply and services of its optical and data networking equipment for various projects won by BEL, which includes the Kerala Fibre Optic Network, defence communication networks and smart city projects.
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.
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