Tejas Networks spurts after supplying equipment for BharatNet project

Tejas Networks rose 7.05% to Rs 456 at 13:22 IST on BSE after the company said it successfully completed supply and deployment of over 40,000 GPON equipment for BharatNet phase-1 project.

The announcement was made during trading hours today, 9 January 2018.

Meanwhile, the S&P BSE Sensex was up 25.40 points, or 0.07% to 34,378.19.

On the BSE, 1.36 lakh shares were traded in the counter so far, compared with average daily volumes of 76,000 shares in the past two weeks. The stock had hit a high of Rs 472.20 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 425.30 aso far during the day. The stock hit a record low of Rs 257 on 27 June 2017.

Tejas Networks announced that it has successfully completed Gigabit-capable Passive Optical Networks (GPON) equipment installations in over 40,000 gram panchayats in India as part of the BharatNet phase-I project.

BharatNet is an ambitious Government of India project to bring high-speed broadband connectivity to 250,000 gram panchayats of the country.

On a consolidated basis, net profit of Tejas Networks rose 68.04% to Rs 26.87 crore on 0.85% rise in net sales to Rs 216.13 crore in Q2 September 2017 over Q2 September 2016.

Tejas Networks designs, develops and sells networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 65 countries.

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