Tejas Networks shares spurt 23% in four days after Rs 123 crore PLI incentive

Tejas Networks witnessed a significant surge in its share price today, jumping 12.46% to Rs 799 on the National Stock Exchange (NSE).

This sharp rise follows the company's recent announcement of receiving Rs 123.45 crore under the Production Linked Incentive (PLI) Scheme.

The company announced on 13 March 2025, that it had received the incentive from the Ministry of Communications, Department of Telecommunications, New Delhi, for the financial year 2023-24.

This payment is part of the PLI scheme designed to boost domestic manufacturing of telecom and networking products.

The positive news has fueled a strong rally for Tejas Networks, with the stock climbing 23% in four consecutive sessions, recovering from a recent low of Rs 649.70 on 17 March 2025.

However, despite this recent uptrend, Tejas Networks' stock is still remains down approximately 33% year-to-date in 2025. It is also significantly below its all-time high of Rs 1495, which was reached on 27 June 2024, currently sitting at a 46.56% decrease from that high point.

Tejas Networks designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries.

Tejas Networks is a part of the Tata Group, with Panatone Finvest (a subsidiary of Tata Sons) being the majority shareholder with a 54.01% stake as on December 2024.

On a consolidated basis, Tejas Networks reported a net profit of Rs 165.57 crore in Q3 FY25 as against net loss of Rs 44.87 crore in Q3 FY24. Net sales soared 345.98% YoY to Rs 2,497.30 crore in Q3 December 2024 over Q3 December 2023. The company's order book at the end of Q3 FY25 stood at Rs 2,681 crore.

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