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.
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