On Friday, the shares of Tejas Networks recorded a tremendous lead of up to 18%. With this boom, the stock reached the Intrade High of Rs 835, which is the biggest intraday lead since April 2024. Within a week, this stock gave a return of 24%.
The stock market legendary investor Vijay Kedia also benefited from this fast. Vijay Kedia Securities Private Limited has 23,00,000 shares (1.31% stake) of the company. The price of his portfolio increased by Rs 20.56 crore (89.40 x 23,00,000) due to an increase of Rs 89.40 per share in Friday session.
Quarterly results of Tejas Network
In the December quarter, Tejas Networks recorded a net profit of Rs 165.67 crore, while the company incurred a loss of Rs 44.87 crore in the same quarter last year.
The reason for the company’s tremendous growth is a major order from Tata Consultancy Services (TCS) for BSNL’s 4G network. This increased the company’s revenue by 345.98% to Rs 2,497.30 crore.
In the last 1 year, Stock has given a return of 19%, while in 5 years it has emerged as a multibagger stock with a gain of 2,232%.
What is the reason for the boom?
Tejas Network has received a PLI (production linked incentive) fund of Rs 123.45 crore from the Ministry of Communications, Telecommunications Department by 12 March 2025.
Tejas networks design and manufacture wireline and wireless networking products. Its career-class products are used in telecom companies, government agencies and defense networks in more than 75 countries.
The company is currently part of the Panatone Finvest Limited (a subsidiary of Tata Sons Private Limited), which has further strengthened its potential.
