The shares of Tejas Networks traded at new highs on July 13. It rose 13 percent to Rs 835 during the day and settled at Rs 820 as the trading session ended, gaining 11 percent.

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Tejas Networks is a global R&D-driven telecom equipment company headquartered in India. It designs, develops and manufactures high performance optical and data networking products that are used by telecom service providers, utilities, government and defense networks.

The shares of this telecom equipment maker hit record high in today's trading session and witnessed the biggest single-day gain since November 2019. The stock is 35 percent higher since the start of CY2023 and has gained in two out of the last three sessions. Today's volumes are over 20 times higher than its 20-day average.

The company shall declare its first quarter results on Friday, July 21 and will hold a call for investors on the same day.

In May, BSNL, a government of India-run enterprise has issued an advanced purchase order worth over Rs 15,000 crore to a consortium led by Tata Consultancy Services (TCS) for the deployment of 4G network across the country. Tejas Networks Ltd., and ITI have also been issued advanced purchase orders for this project. Tejas Networks is part of the TCS-led consortium. As part of this deal, Tejas Networks will supply and service the Radio Access Network (RAN) equipment to BSNL.

Earlier in May, Tejas Networks received an advance purchase order worth Rs 696 crore from BSNL for the upgradation of its pan-India IP-MPLS based Access and Aggregation Network (MAAN) using its state of-the-art routers. This is the single largest order that Tejas Networks has received in its history.

(Edited by : Vahishta Unwalla)