Tejas Networks, a domestic telecom equipment manufacturer, stated on Thursday that it has been chosen by Bharti Airtel to expand the telecom operator's optical network capacity in important metropolitan regions. Tejas Networks' stock jumped 5% to 415 per share on the BSE in trading.
Tejas will provide, install, and support its cutting-edge TJ1600 DWDM/OTN solutions to expand Airtel's optical networks to the edge, enabling 5G backhaul, B2B services, and broadband applications.
Tejas Networks signed definitive agreements with Panatone Finvest, a Tata Sons affiliate, last month. The Tata Sons-led arm will acquire a controlling share in the company under the terms of the arrangement.
|Market Cap (Rs. in Cr.)||3886.99|
|Earning Per Share (EPS TTM) (Rs.)||5.83|
|Price To Earnings (P/E) Ratio||71.13|
|Book Value Per Share (Rs.)||115.07|
The stock gained 43.71 percent over three years, compared to 53.39 percent for the Nifty Smallcap 100. Over a three-year period, the stock returned 43.71 percent, compared to 58.69 percent for the S&P BSE Telecom index.
Tejas Networks was trading at Rs 414.80 on the BSE at 11.45 hrs, up Rs 19.75, or 5.00 percent, and Bharti Airtel was trading at Rs 733.55, up Rs 6.75, or 0.93 percent.