Tejas Networks’ shares saw a robust 4% surge following the company’s announcement of its significant role in the BharatNet Last Mile Connectivity (LMC) project in Tamil Nadu. The initiative, spearheaded by Tamil Nadu FibreNet Corporation Limited (TANFINET), positions Tejas Networks as a pivotal supplier of cutting-edge telecommunications infrastructure.
Key Highlights of the Announcement:
- Supply of Advanced Tech: Tejas Networks will provide state-of-the-art GPON OLT, ONT, and Management Systems to bolster Tamil Nadu’s digital infrastructure.
- Collaboration with Polycab: Polycab India Limited (PIL) has been appointed as the Master System Integrator for the project, ensuring seamless execution.
- Broadband Expansion: The BharatNet LMC project aims to extend affordable high-speed broadband to approximately 50,000 government institutions, including schools and healthcare facilities, at the Gram Panchayat, Block, and District levels.
- Rural Connectivity Boost: The infrastructure will facilitate Fiber-to-the-Home (FTTH) services for rural households, leveraging partnerships with local cable operators and telecom providers.
Tejas Networks stock opened at ₹1,380, peaked at ₹1,402.70, and hit a low of ₹1,370 during the trading session. The stock is trading close to its 52-week high of ₹1,495, marking a significant recovery from its 52-week low of ₹651.25.
As of 9:20 am, Tejas Networks shares were trading 2.52% higher at Rs 1,375.20 on the NSE.
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