Other companies that have applied for the BSNL contract include domestic vendors like United Telecoms (UTL), and Tata Group company, Tejas Networks
The stock has rallied nearly 62 per cent so far in 2023 as against a 9 per cent gain on the BSE Sensex.
Stocks to Watch on September 8, 2023: As per a Business Standard report, L&T has secured a multi-billion-dollar contract from Saudi Aramco
Thus far in the calendar year 2023, the stock price of Tejas Networks has zoomed 53 per cent, as compared to 9.4 per cent rise in the S&P BSE Sensex
Tejas Networks, a subsidiary of Tata Group, is a part of the consortium and will supply and service the radio access network equipment
Tejas Networks Ltd, too, is a part of the TCS-led consortium which has bagged APO for 4G deployment
Tata Sons' unit Tejas Network will manufacture the equipment locally for BSNL
Tata Group firm Tejas Networks will invest over Rs 750 crore under design-led Production Linked Incentive (PLI) scheme for manufacturing of telecom and networking products, the company said on Tuesday. Tejas Networks is one of the 42 companies selected for the scheme. "In its application, the company has committed to make a minimum cumulative capital investment of Rs 750 crore over the scheme period," Tejas said in a regulatory filing. On Monday, the Department of Telecom granted approval to 42 companies, including 28 MSMEs, under the scheme for telecom and networking products, entailing total committed investment of Rs 4,115 crore by the firms. Out of them, 17 companies have applied for additional incentive of 1 per cent under the design-led manufacturing criteria.
The scheme is crucial to strengthen the value chain of multiple verticals of 5G equipment. For these, India mainly depends on imports
The official said Tata's recently acquired subsidiaries Tejas Network and Saankhya Labs would also participate in producing necessary equipment as per the deal
Post 5G spectrum auctions, we expect to see a multi-year capex spend cycle for building both wireline and wireless infrastructure
Inks partnership with Tata Motors and Tejas Networks, plans innovation centre with TCS
Stocks to Watch Today: Shares of pharma company - Aurobindo, Sun Pharma and Jubilant are likely to be in focus as the trio have recalled different products in the US market as per the latest USFDA
The company had posted a profit of Rs 33.55 crore in the period a year ago.
Atmanirbhar Bharat Abhiyan of the Government is aimed at limiting import dependence and increasing demand for indigenous products, providing better growth opportunities for the company.
The company has signed definitive agreement to acquire 64.4 per cent stake of Saankhya Labs Private Ltd for Rs 283.94 crore in cash
Nelco was locked in the upper circuit at Rs 637.10 and Tejas Networks was frozen at Rs 384.90 on the BSE.
Tata Group firms on Friday made open offer to acquire upto 26 per cent stake in domestic telecom gear firm Tejas Networks for around Rs 1,038 crore
Tejas Networks, on September 23, announced that it has been selected by Bharti Airtel to enhance the company's optical network capacity in key metropolitan markets
The shares were bought at an average price of Rs 258, aggregating the transaction size to Rs 193.5 crore