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Tejas Networks jumps after TCS letter of intent worth ₹1,537 crore
The telecom equipment maker said the TCS letter of intent covers RAN equipment and related installation materials for BSNL 4G across 18,685 sites.
Tejas Networks shares surged 13% in morning trade on the BSE on Friday, 28 August, a day after the company disclosed it received a letter of intent from Tata Consultancy Services valued at ₹1,537 crore. The stock opened at ₹540.60 against a prior close of ₹510.85 and climbed to an intraday high of ₹576.80. By around 10:35 AM, it had pared gains to trade up 9.20% at ₹557.85, with LiveMint noting it was on track to extend a third consecutive session of gains. According to an exchange filing on 27 August, Tejas Networks said the letter of intent was received for the supply of radio access network, or RAN, equipment, accessories, and installation materials for the BSNL 4G mobile network for 18,685 sites. Tejas Networks is part of the Tata Group. The report also highlighted the company’s recent performance, with Tejas Networks posting a consolidated loss of ₹202.24 crore in the June quarter, versus losses of ₹211.34 crore in Q4FY26 and ₹193.87 crore in Q1FY26. Revenue from sales and service in the quarter was ₹402 crore, compared with ₹332 crore quarter-on-quarter and ₹202 crore year-on-year.