Tejas Network Share Price Advances After Securing Rs 123 Crore Under PLI Scheme
Tejas Networks share price has been rallying for three days.
Tejas Networks Ltd. share price advanced in Friday's session as the company received Rs 123 crore from the Ministry of Communication under the production-linked incentive scheme for telecom and networking products, according to an exchange filing on Thursday. The amount is the first tranche comprising 85% of the eligible incentive for the third quarter of fiscal 2025.
In late May, Tejas Networks received an order worth Rs 1,525.53-crore from Tata Consultancy Services to supply equipment and services to Bharat Sanchar Nigam Ltd. It's an add-on advance purchase order as per the master contract signed between Tejas Networks and Tata Consultancy Services Ltd.
Tejas Networks Share Price Today
Tejas Networks share price rose 4.88% to Rs 749.95 apiece, the highest level since May 27. It was trading 1.85% higher at Rs 728.30 apiece as of 9:42 a.m., as compared to a 0.20% decline in the NSE Nifty 50.
The stocka has been rising for three days in a row. Its 100-day moving average is Rs 809.46. Tejas Networks' market cap rose Rs 222.72 crore to Rs 12,803.93
It has declined 48.52% in 12 months, and 38.6% on year-to-date basis. Total traded volume so far in the day stood at 4.3 times its 30-day average. The relative strength index was at 48.28.
