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Tejas Networks bags Rs 66 cr order from L&T Construction; stock surges 5%

The company said it has bagged orders for Indian Defence Network Project from L&T Construction.

Following the sharp run-up, returns are expected to plateau.
For the quarter ended March 2020 (Q4FY20), Tejas Networks had reported a consolidated net loss of Rs 126.53 crore.

Shares of Tejas Networks were frozen at the 5 per cent upper circuit band of Rs 63.80 on the BSE on Monday after the company announced it has bagged order worth Rs 66 crore for Indian Defence Network Project from L&T Construction.  The company, in its press release, said it has "received a purchase order of Rs 66 crore from L&T Construction, to supply its GPON based fiber-broadband products and high-performance Metro Ethernet switches for a prestigious Indian defence network project. The order was received during the last quarter and the first set of supplies have started ...