Tejas Networks share price jumped more than 9% on Friday, extending its rally for the fourth consecutive session amid strong buying momentum. The Tata Group stock rose as much as 9.17% to Rs 619.80 apiece on the BSE.
The rally in Tejas Networks share price today was accompanied by a sharp increase in trading volumes. Around 2 crore equity shares of Tejas Networks changed hands across stock exchanges, significantly higher than the one-week average volume of around 1 crore shares and the one-month average of approximately 39 lakh shares.
The stock has gained in seven of the past eight trading sessions, rising nearly 23% during the period.
Following Friday's gains, Tejas Networks shares are now just 3.8% below their 52-week high of Rs 644.75 apiece, recorded on June 19, 2026.
The recent upward momentum in Tejas Networks shares came after the company announced receiving of a Letter of Intent (LOI) from Tata Consultancy Services (TCS).
On August 27, Tejas Networks informed that the LOI was for the supply of RAN equipment, accessories & installation materials for BSNL 4G mobile network for 18,685 sites, valued at Rs 1,537 crore.
TCS is expected to issue a formal, detailed Purchase Order (PO) in due course to formalise execution, the company said.
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At the close of Q1FY27, the total order book of Tejas Networks was Rs 1,529 crore. This single LOI worth Rs 1,537 crore effectively doubles the company's order backlog.
According to the company's investor presentations, Tejas Networks is actively awaiting an additional expansion order for 26,000 more 4G sites using its RAN systems under a parallel BSNL rollout plan.
Technical Outlook
Tejas Networks share price has risen 15% in one month, and has gained 23% in six months. The Tata Group stock has rallied 36% on a year-to-date (YTD) basis, but has declined 53% in two years. Over the past five years, Tejas Networks stock price has surged more than 66%.
The stock had been consolidating in the Rs 532 – Rs 577 range over the last five trading sessions, and the stock has now broken out of this range, supported by strong volumes, indicating a potential shift in momentum.
“The RSI is rising, signalling strengthening bullish momentum, while the ADX has started to edge higher, indicating a buildup in trend strength. The rising MACD histogram bars, along with the MACD line sustaining above the zero line, further reinforce the bullish bias,” said Sudeep Shah, Head of Technical and Derivatives Research, SBI Securities.
According to him, the immediate support for the stock is placed in the Rs 570 – Rs 565 zone. As long as Tejas Networks stock price sustains above this zone, the ongoing pullback is likely to extend further in the near term.
At 1:30 PM, Tejas Networks share price was trading 8.39% higher at Rs 615.35 apiece on the BSE.
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