Tejas Networks jumps 13% after ₹1,537cr TCS letter of intent
Business
Tejas Networks's shares shot up 13% on Friday morning after receiving a ₹1,537 crore letter of intent from Tata Consultancy Services (TCS).
The deal has Tejas supplying equipment for BSNL's 4G rollout for 18,685 sites, pushing the stock to an intraday high of ₹576.80 and looking set to extend gains for the third consecutive session.
Investors optimistic on Tejas Networks
This big win puts Tejas Networks front and center in India's telecom upgrade. Investors are optimistic about the company's future with BSNL's massive project in play.
As Tejas put it, the letter of intent is a testament to its capabilities and commitment toward enhancing India's telecom network.