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Tejas Networks share closes 5% higher after firm wins Rs 66-crore order from L&T Construction

Tejas Networks share price has gained 6.33% in the last 2 days

twitter-logoBusinessToday.In | August 10, 2020 | Updated 16:35 IST
Tejas Networks share closes 5% higher after firm wins Rs 66-crore order from L&T Construction
Tejas Networks share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages

Tejas Networks share price closed 5% higher today after the firm received a Rs 66 crore order from L&T Construction. Tejas Networks share price has gained 6.33% in the last 2 days.

The stock opened with a gain of 4.93% at Rs 63.80 today and closed at the same level. It was stuck at upper circuit of 5% throughout the day. Tejas Networks share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Total 7297 shares changed hands amounting to a turnover of Rs 4.64 crore on BSE.

The share hit 52 week high of Rs 114.10 on November 21 last year and touched 52 week low of Rs 28.50 on May 21, 2020.

Tejas Networks share has lost 29.35% during last one year and fallen 33% since the beginning of this year.  In a month, the share has gained 17.39%. The share saw only buy orders and no sell orders during the session.

Share Market Highlights: Sensex ends 141 points higher, Nifty at 11,270; Cipla, L&T, M&M top performers

The company won a Rs-66 crore order to supply its GPON-based fibre-broadband products and high-performance metro ethernet switches for a prestigious Indian defence network project.

"This win reinforces our technology strengths and credibility as a trusted provider of defence communication equipment to tri-services, since we have earlier supplied our DWDM and Layer-3 Multi-Gigabit Ethernet switches for the Indian Navy network and our Layer-2 Gigabit Ethernet switches for the Indian Air Force network," said Sanjay Nayak, Managing Director and CEO of Tejas Networks.

Tejas Networks is a provider of carrier grade communications equipment and solutions for telecom industry. The company supplies optical networking equipment to telecom carriers across the world. Its equipment is used by various service providers to build broadband networks, in addition to support traditional voice networks.
Meanwhile, Sensex ended 141 points higher at 38,182 and Nifty gained 60 points to 11,274.

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