Here's why Tejas Networks share price rose 9% in trade on March 16

Tejas Networks share: The uptick in Tejas Networks' stock follows its announcement of a purchase order to supply 4G RAN (Radio Access Network) solutions for a mobile network in South Asia

Tejas Networks Share Price: Shares of Tejas Networks were ruling higher on the bourses in an otherwise volatile market on Monday after the Tata Group company announced that it has received a purchase order to supply its state-of-the-art 4G RAN solutions for a mobile network in South Asia.

 

Following the news, the company's share price climbed 9.08 per cent to ₹463 per share during early trade on Monday. Although the stock pared some gains partially, it continued to trade higher on the bourses. At 09:36 IST, Tejas Networks’ share price was quoted at ₹442.55 per share, up 5.51 per cent from its previous close of ₹424.45 per share on the NSE. The benchmark NSE Nifty50 was trading at 23,237, higher by 86 points or 0.37 per cent.

 

 

Tejas Networks’ market capitalisation stood at ₹7,925.57 crore on the NSE. The company’s shares have a 52-week range of ₹294–₹914.40 per share on the exchange.  

Tejas Networks Secures 4G RAN Order in South Asia

The northward movement in the company's price follows the announcement that it has received a purchase order to supply its state-of-the-art 4G RAN (Radio Access Network) solutions for a mobile network in South Asia. “This development marks another important step towards expanding the company’s international wireless customer base. As a part of the order, Tejas’s 4G multiband radio products will be deployed at multiple locations across the mobile operator’s network,” the company said in a release.

 

Sanjay Malik, chief strategy and business officer of Tejas Networks, said, “We are proud to announce further progress in our pursuit to expand our international wireless business and in taking our 4G/5G mobility stack global. We look forward to growing our presence in the customer’s network while replicating this success in other 4G/5G mobile networks, both in India and across the globe.” 

 

By inducting Tejas as their new wireless OEM, Tejas Networks’ South Asian customer, Kumar N. Sivarajan, chief technology officer, said, now has a trusted and proven technology partner capable of addressing diverse network requirements while benefiting from greater vendor diversity. “We are fully committed to support them with innovative and well-differentiated solutions to optimally meet their network performance and user experience objectives,” added Sivarajan.