Share of Tejas Networks hit upper circuit in early trade today after the firm said it has received a purchase order of $13 million from a leading telecommunications service provider in South East Asia. Tejas Networks share opened with a gain of 2.33% at Rs 134 on BSE.
The stock has gained 10.18% in the last 2 days. The share touched an intraday high of Rs 137.45 rising 4.96% against previous close of Rs 130.95 on BSE.
There were only buyers and no sellers for the share in trade today.
Tejas Networks share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 44.53% in one year and since the beginning of this year.
In a month, the stock has climbed 27.21%.
"As per the contract, Tejas will supply and install its award-winning ultra-converged broadband products to extend high-speed broadband services to underserved rural communities in the region. The project is expected to be executed within the next 12 months," the firm said.
Sanjay Nayak, Managing Director and CEO of Tejas Networks said, "We are delighted to be chosen for this prestigious project that will enable a sizable rural population to experience the tangible benefits of high-speed, reliable and affordable wireless internet for the first time. TJ1400UCB is an innovative product that provides theflexibility to rapidly rollout broadband services on optical fiber, wireless or coppermedia, as per available infrastructure, at highly affordable costs."
Tejas Networks designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries.