Tejas Networks shares rose over 4% in early trade on Thursday after the company announced it had received ₹123 crore from the Ministry of Communications under the Production Linked Incentive (PLI) Scheme for telecom and networking products. As of 9:18 AM, the shares were trading 4% higher at Rs 743.95.
In a regulatory filing, Tejas Networks said the ₹123 crore is the first tranche of the PLI incentive for Q3 of FY25. This amount constitutes approximately 85% of the total eligible incentive for the quarter. The remaining amount will be disbursed later, in accordance with PLI scheme guidelines.
Tejas Networks shares opened at ₹727.00 and, at the time of writing, touched a high of ₹749.95 during the trading session. The stock recorded a low of ₹726.60. Over the past 52 weeks, the share price has fluctuated between a low of ₹646.55 and a high of ₹1,495.00.
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