Tejas Networks Ltd Receives Mobilization Advance Of Rs 750 Cr From TCS For BSNL Order

Tejas Networks Ltd., a telecom equipment manufacturer, announced on Thursday, Sept 07, 2023, that it has received a mobilisation advance of Rs 750 crore from Tata Consultancy Services for the delivery of Radio Access Network (RAN) equipment for Bharat Sanchar Nigam Limited's (BSNL) pan-India 4G and 5G network.

"...we have received today (September 07, 2023) the mobilization advance of Rs. 750 crore (Rupees Seven hundred and Fifty crore) from Tata Consultancy Services Limited, towards supply of Radio Access Network equipment for BSNL's Pan-India 4G/5G network," the Company said in a filing.

On Friday, shares of Tejas Networks opened at Rs 926 per share on the BSE, currently trading 1.91% higher at Rs 910.45 per share. The stock gained 6.14% in the past 1 week. It gained 28.18% in the past 3 months and gained 44.47% in the past 6 months. In the past 1 and 2 years, it gained 11.41% and 14.16%, respectively. It gained 73.33% in 3 years, while in 5 years, it gained 73.22%.

Tejas Networks Ltd. manufactures wireless and wireless networking products for telecommunications service providers, utilities, internet service providers, defence and government entities in over 75 countries. The company is a part of the Tata Group, The Company's majority shareholder is Panatone Finvest, a subsidiary of Tata Sons.