Tejas Networks shares jump 9% on 4G network expansion project, rally 41% in one month

Shares of Tejas Networks jumped more than 9% to Rs 463 on the NSE on Monday after the company announced that it has received a purchase order for the supply of its state-of-the-art 4G RAN (Radio Access Network) solutions for a mobile network in South Asia. The stock has gained around 41% in just one month.

In an exchange filing, Tejas Networks said the project marks another important step towards expanding the company’s international wireless customer base. As part of the order, the company’s 4G multiband radio products will be deployed at multiple locations across the unnamed mobile operator’s network.

“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,” said Sanjay Malik, Chief Strategy and Business Officer of Tejas Networks.

Also read: QSR stocks slump up to 47% as weak investor appetite, rising fuel risks dent mood. Time to bottom fish?

The company said it has a versatile wireless product suite comprising 4G and 5G radio access network (RAN) offerings and a converged 4G/5G core solution. Its radio units are designed with flexibility and scalability in mind, supporting multi-band and multi-mode operations to enable cost-effective deployment in diverse real-world environments, it added. “Tejas’s award-winning TJ1400 UltraFlex baseband product provides unprecedented integration of wireless, broadband, transport, and IP network technologies in one compact chassis, thus significantly reducing the cost of network build-outs for mobile and fixed broadband operators,” the company further said.

By inducting Tejas as their new wireless OEM, the company’s South Asian customer now has a trusted and proven technology partner capable of addressing diverse network requirements while benefiting from greater vendor diversity, said Kumar N. Sivarajan, Chief Technology Officer of Tejas Networks. “We are fully committed to support them with innovative and well-differentiated solutions to optimally meet their network performance and user experience objectives,” he added.
Also read: IDBI Bank shares tumble 15% as govt likely to halt divestment process: Here’s why

Tejas Networks’ shares have seen a significant surge recently after a sharp slump earlier. Despite the 41% rise in one month, the stock is still down in the red overall this year so far. It has fallen more than 30% in one year.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)