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Tejas Networks shares zoom 13% after TCS’s Rs 1,537-crore LOI for BSNL 4G rollout

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Tejas Networks shares zoom 13% after TCS’s Rs 1,537-crore LOI for BSNL 4G rollout
Tejas Networks shares rallied nearly 13% on Friday after the company announced a potential Rs 1,537-crore opportunity from Tata Consultancy Services (TCS).

The stock hit an intraday high of Rs 576.85 on the NSE, up Rs 65.7, or 12.8%, from its previous close of Rs 511.15.

In an exchange filing dated August 27, Tejas Networks said it had received a “Letter of Intent” from TCS to supply RAN equipment, accessories and installation materials for BSNL’s 4G network.

The proposed project covers 18,685 sites and is valued at Rs 1,537 crore. A detailed purchase order for the contract would be issued by TCS to the company in due course, Tejas Networks added in the filing.

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In May 2025, TCS had secured an add-on purchase order worth Rs 2,903.22 crore from BSNL for deploying 18,685 4G network sites. Under the order, TCS was tasked with planning, engineering, supply, installation, testing, commissioning and annual maintenance of the sites.


The latest order is part of TCS’s broader role in BSNL’s indigenous 4G rollout. In May 2023, TCS, in partnership with the government’s Centre for Development of Telematics (C-DOT), secured a Rs 15,000-crore contract from BSNL to deploy an end-to-end indigenous 4G network.

Tejas Networks share price

Over the past month, the stock climbed 12.75%, comfortably outpacing its benchmark’s 1.68% gain. Tejas Networks’ free-float market capitalisation stood at Rs 4,641.57 crore, while its face value was Rs 10.

Tejas Networks Q1 results

Tejas Networks’ Q1 FY27 performance showed strong revenue growth but continued pressure on profitability. Revenue rose 99.1% year-on-year to Rs 402.16 crore from Rs 201.98 crore a year earlier. However, the company reported a net loss of Rs 202.24 crore, compared with a loss of Rs 193.87 crore in the year-ago quarter. Its operating EBITDA loss stood at Rs 91.39 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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At Close of Business podcast August 28 2026

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At Close of Business podcast August 28 2026

Nadia Budihardjo and Jack McGinn discuss the trends in paper-based and digital wedding invitations amid increased costs and a rise of AI design software.

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Cyclosporiasis outbreak now spreads to Georgia, Tennessee and Texas

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Cyclosporiasis outbreak now spreads to Georgia, Tennessee and Texas

The massive cyclosporiasis outbreak linked to iceberg lettuce and thousands of illnesses has expanded to three new states, federal health regulators announced Thursday.

The Food and Drug Administration (FDA) said the outbreak, which has been linked to hundreds of hospitalizations and two deaths since illnesses were first reported in July, has now been detected in Georgia, Tennessee and Texas.

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There have now been 11,458 illnesses reported across 20 states, according to the FDA.

The FDA added the three new states to the outbreak list Thursday, one week after its previous update.

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Lettuce is displayed

A massive cyclosporiasis outbreak linked to contaminated iceberg lettuce has sickened more than 11,000 people across 20 states, according to the FDA. (Brandon Bell/Getty Images / Getty Images)

Health authorities have traced the multistate outbreak to contaminated iceberg lettuce supplied by Taylor Farms de Mexico to Taco Bell restaurants.

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The cyclosporiasis outbreak — one of the largest foodborne illness events in recent U.S. history — has also rippled through the food industry, changing how some Americans shop for fresh produce.

Dave Ciesinski, president and CEO of The Marzetti Company, which owns and operates a range of popular retail food brands, including refrigerated salad dressings, recently told FOX Business that the outbreak isn’t just hurting lettuce sales but also affecting how Americans shop and eat.

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Taylor Farms salad greens

Packages of Taylor Farms salad greens are displayed at a Safeway store in Kings Beach, California, on July 16, 2026. The company says it has voluntarily removed iceberg lettuce sourced from central Mexico while federal officials continue investigatin (Justin Sullivan/Getty Images / Getty Images)

Sales of leafy greens tumbled as much as 30% at the beginning of the outbreak, he said, while vegetable sales fell roughly 16% to 17%, with fruit also declining.

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“Suffice it to say, they’re changing their behavior,” Ciesinski said of consumers on “The Claman Countdown.”

Michigan has been the hardest-hit state in the outbreak and has reported two related deaths. Both people had significant underlying health conditions, according to health officials.

Cyclospora is a single-celled parasite that can cause stomach cramps, nausea, fatigue, weight loss and other health problems, though some infected people remain asymptomatic, according to the U.S. Centers for Disease Control and Prevention (CDC).

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A Taco Bell restaurant.

Health authorities have linked a multistate cyclosporiasis outbreak to contaminated iceberg lettuce supplied to Taco Bell restaurants by Taylor Farms de Mexico. (Jeffrey Greenberg/Universal Images Group via Getty Images / Getty Images)

The CDC said symptoms typically begin about one week after infection and can last anywhere from a few days to a month. Symptoms can also appear to go away before returning one or more times.

Fox News Digital’s James Cirrone contributed to this report.

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Fair Work uncovers $5m in aged care underpayments, report says

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Fair Work uncovers $5m in aged care underpayments, report says

Fair Work Ombudsman data shows aged care providers paid back $5.3 million to workers in just over a year, excluding the $5.38 million that was to be paid solely by Southern Cross Care WA.

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Rise in number of Welsh firms in critical financial distress

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There has been a rise in the number of firms in Wales in critical financial distress.(Image: Getty Images/iStockphoto)

The number of Welsh businesses in critical financial distress has increased.

According to the latest Red Flag Alert research from insolvency firm BTG (formerly known as Begbies Taylor Group) some 1,362 Welsh firms in the second quarter (Q2) of this year were deemed as being in a critical state, a rise of 2.4% on Q2 of 2025.

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However, the rise in Wales was the lowest of any UK nation or region. For the UK as a whole there was an increase of 9% on the year.

Moreover, BTG said 16,264 businesses across Wales were classified as being in significant financial distress. This was down 5.5% year-on-year and 7.4% on Q1.

Half of local authority areas experienced an annual increase in the number of firms in significant financial distress. The biggest rise, up 25.2%, was in Anglesey , followed by Merthyr, 14.9% and Wrexham 13.1%.

There were falls in 11 local authority areas with the biggest year-on-year decline being seen in the Vale of Glamorgan, down 18.3%, Cardiff, 15% and Caerphilly, 11.2%.

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For the UK as a whole the number of companies in significant financial distress increased 1% year-on-year to 674,030.

Huw Powell, partner at BTG in Wales, said:“ As we enter the second half of 2026, businesses across Wales will be hoping that the tides will begin to turn under Andy Burnham’s new UK Government. With financial distress remaining high, firms are walking a tightrope, and any further increases to energy costs, inflation or interest rates could cause many to lose their balance.

” Unfortunately, as conditions stand, with bond rates higher than the peak levels reached during the Liz Truss “mini-budget” crisis of 2022, it seems that the UK is likely to face further cost and interest rate increases in the next half of the year. With confidence and spending already at rock bottom, any resulting shockwaves will be felt across all industries in Wales.

“UK consumer facing sectors have felt the brunt of the drop in spending and confidence, while industries like construction and real estate sectors have suffered the knock-on impact of rising costs and interest rates brought about by macroeconomic factors. It is clear that addressing the cost of living crisis is high on Burnham’s agenda, but we may have to wait until the expected Autumn budget before we really understand what changes to taxes, spending and fiscal policy will be implemented.

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“Across the Welsh economy there will be a collective holding of breath as firms await announcements from Burnham and Stephen Kinnock as the new Secretary of State for Wales and we assess how their plans will roll out in Wales. With further devolution of power potentially on the table, Rhun ap Iowerth will be a very interested observer, as will all of those who would like to resist more power being given to the Senedd.

“There is hope that Burnham will bring new optimism to help troubled firms navigate these difficult times and provide a platform for recovery and growth in the long term. There’s a rocky road ahead for Wales and the UK as insolvency rates typically land later than increases in economic distress and, with winding up petitions coming through faster than ever, we could still see more businesses collapsing well into 2027.”

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Prince William and Kate Leave Balmoral Ahead of George Starting Eton and Siblings Returning to Lambrook

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Savannah James

LONDON — The Prince and Princess of Wales have left Balmoral Castle after a summer stay with King Charles III and Queen Camilla, returning south as their children prepare for the new school year and Prince George prepares to start boarding at Eton College.

Hello! magazine reported Thursday that William, Catherine and their three children — Prince George, 13, Princess Charlotte, 11, and Prince Louis, 8 — departed the Scottish estate earlier in the week on a commercial flight, their usual travel arrangement for family holidays. The Wales family had arrived at Balmoral around Aug. 20 and were seen with other members of the royal family at Sunday service at Crathie Kirk on Aug. 23.

The departure marks the end of the traditional late-summer gathering in the Highlands and the start of a busy period at home near Windsor. Charlotte and Louis will return to Lambrook School. George will begin at Eton College in September, following his father and his uncle, Prince Harry.

Kensington Palace confirmed the school choice in June, saying: “Kensington Palace can confirm that Prince George will attend Eton College from this September.”

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A source told Hello! that proximity to home was a key factor. “You can see Eton College from Windsor Castle. So that would be lovely for George to be able to pop home. And the boys now are allowed a little bit of freedom to pop in and out of school at the weekends, to come home for Sunday lunch or tea on a Saturday evening after their sports fixtures.”

Eton, founded in 1440, is an all-boys boarding school near Windsor. Fees exceed £63,000 a year. The school has educated generations of British royalty and numerous prime ministers. George will board but remain close enough for weekend visits, a balance William experienced when he attended the same school in the 1990s.

Preparations at the college have included additional “No photography” signs around the grounds, intended to protect pupils’ privacy as media interest in George’s arrival increases. New students typically face early traditions such as learning house colors and school geography. Reports have said George’s first term is expected to begin in early September.

The family’s Balmoral stay overlapped with news that Harry, Meghan, the Duchess of Sussex, and their children, Prince Archie and Princess Lilibet, had returned to Britain. Multiple outlets reported that the Sussexes landed at Birmingham on Wednesday, Aug. 26, and plan an extended stay, with a home in the Cotswolds and school arrangements for the coming academic year. Kensington Palace has not issued a public comment on that development in connection with the Wales family’s departure.

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William and Catherine have treated school holidays as protected family time, splitting summers among Anmer Hall in Norfolk, Forest Lodge and the Scottish estate. Balmoral remains the monarch’s late-summer base, with visiting relatives joining church, walks and outdoor activities away from London. This year’s visit was relatively short, coming just before the start of term.

George leaves Lambrook after completing prep school, including a leavers’ program of sports days and formal events. Moving to Eton is the first major educational change of his teenage years and a step that places him in a more independent boarding environment while keeping Windsor within easy reach. William has spoken in the past about the value of the school in his own life. Sources close to the family have said George wanted to follow that path.

Charlotte and Louis will continue at Lambrook, keeping two of the three children in the same familiar setting. That arrangement allows the household to manage one new boarding routine rather than three simultaneous changes.

The royal calendar typically resumes more public work in September. King Charles is expected to return to London next week for engagements. William and Catherine’s immediate focus, according to reporting around the Balmoral departure, is the practical transition of uniforms, schedules and the first days of a new school for their eldest son.

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Eton’s location has long been cited as an advantage for royal pupils. Windsor Castle is close enough for weekend meals and family contact without removing the structure of boarding life. The Hello! source’s description of Saturday teas after sports and Sunday lunches at home captures the rhythm families in the area often use.

Public attention on George’s first day is expected to be high. Palace and school officials generally try to limit disruption for other pupils. The extra signage and controlled access around the college reflect that concern.

Harry also attended Eton. Comparisons between the brothers’ experiences there have circulated for years, but the current story for the Wales household is narrower: a summer holiday ending, two children returning to a known school, and one beginning a new chapter a short drive from home.

The family’s use of a commercial flight to leave Scotland is consistent with their recent practice of traveling in a lower-key way when possible. No official photographs of the departure were issued. Coverage has relied on Hello!’s account of the timing and on earlier public appearances at Crathie Kirk.

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As term approaches, the practical details — house assignment, uniform fittings, and the first weekend permissions — will matter more to the household than the symbolism of Eton’s history. For now, the verified facts are straightforward: Balmoral is over for the Wales family this summer, Lambrook resumes for Charlotte and Louis, and George is due at Eton in September, close enough to Windsor to come home when the school allows.

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Nomura Small Cap Value Fund Q2 2026 Commentary

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Nomura Small Cap Value Fund Q2 2026 Commentary

Nomura Small Cap Value Fund Q2 2026 Commentary

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Colman’s Mustard sale ahead of Unilever McCormick merger

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Colman's Mustard sale ahead of Unilever McCormick merger

Colman’s Mustard has been put up for sale by Unilever, as the FTSE 100 group moves to head off competition concerns ahead of the planned merger of its food division with the American spice giant McCormick.

Bankers from Rothschild have been hired to handle the sale, which was first reported by Sky News.

Under the terms of Unilever’s spin off of its food business, Colman’s and other major Unilever brands such as Marmite were due to move into McCormick as part of a deal creating a £48bn giant. Colman’s will now be sold before the transaction completes, while the rest of the food division is still expected to transfer to the US group. Unilever announced the combination of Unilever Foods with McCormick at the end of March, and the deal is expected to close in mid 2027, subject to McCormick shareholder approval and regulatory clearances.

The mustard pot is the sticking point. McCormick already owns French’s Mustard, and Unilever’s advisers had feared that adding Colman’s to the same portfolio would create a mustard monopoly, handing regulators ammunition to block the wider deal.

“A decision has been taken to market the Colman’s brand and assets to potential buyers in order to proactively seek to address potential competition concerns from the planned combination of Unilever Foods and McCormick,” a Unilever spokesman said. “Discussions are ongoing and the operations continue as usual.”

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The Competition and Markets Authority in the UK and the Federal Trade Commission in the US are both set to scrutinise the merger. Companies facing monopoly concerns are regularly forced to carve out and sell parts of their businesses to allay regulatory fears, and the Colman’s disposal follows that well worn playbook.

For the brand itself, the carve out could amount to a reprieve. Selling Colman’s to McCormick alongside the rest of the food division had drawn criticism from experts, who said it was a “shame” that heritage brands were to be owned by US conglomerates. The separate sale means the English mustard could remain in Britain if a domestic buyer comes forward.

Colman’s has been under British ownership throughout its 212 year history. The business was founded in 1814 by Jeremiah Colman, a flour miller who began processing mustard seed at a watermill in Bawburgh, Norfolk. The famous bull’s head logo, symbolising the mustard’s fiery strength and its pairing with British beef, was introduced later by a member of the Colman family, and the brand won a Royal Warrant from Queen Victoria in 1866.

The mustard was owned by Reckitt and Colman, the former UK consumer goods giant, before Unilever acquired the brand in 2005. It is also closely associated with Norwich City FC, whose canary yellow strip matches Colman’s branding; the mustard maker sponsored the club in the 1990s.

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The disposal is the latest reshaping of Unilever’s food interests as it slims down ahead of the McCormick tie up. The group recently agreed to sell its Graze snacks brand to Candy Kittens in a £36m deal, part of a broader restructuring of its portfolio. McCormick, for its part, has history in the UK market: the US group previously made a takeover approach for Premier Foods, an offer the British company rejected as significantly undervaluing the business.

For prospective buyers, the auction offers something rare: a household name with more than two centuries of heritage, a Royal Warrant dating back to Queen Victoria, and a place on Sunday dinner tables across the country. Who ends up holding the pot, and whether the buyer is British, will now be watched almost as closely as the merger itself.


Amy Ingham

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

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Small-Cap Stocks Step Out Of Big Tech’s Shadow

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Don’t Confuse Small-Cap Benchmark With Small-Cap Strategy

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By Samantha S. Lau, CFA & James MacGregor, CFA

Beyond the AI battleground issues, the rebound in smaller stocks points to broader return potential.

In markets that have faced multiple sources of uncertainty this

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SomnoMed Limited (SOMNF) Q4 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript