Tejas Networks Continue To Move Upwards

After closing higher in its very first trading session, Tejas Networks has further continued its upward rally on Wednesday. The stock was trading higher by 4.82% at Rs 269.4 per share as against its issue price of Rs 257 per share. The stock was buzzing on the back of two bulk deals. The stock was bought by Amansa Holdings Private Limited and Abu Dhabi Investment in bulk deals of June 27.

Tejas Networks is an India-based optical and data networking products company with customers in over 60 countries. The company designs, develops and sells high-performance and cost-competitive products to telecommunications service providers, internet service providers, utility companies, defence companies and government entities (collectively, ‘Communication Service Providers’). Its products are used to build high-speed communication networks that carry voice, data and video traffic from fixed-line, mobile and broadband networks over optical fibre.

The company has reported around 62% rise in its revenues from operations for the year ended March 31, 2016, on Y-o-Y basis.

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