Tejas Networks Surges Over 9% After Winning Rs 1,537-Crore LoI From TCS for BSNL 4G Project

Aug 28: Shares of Tejas Networks (TEJASNET) surged as much as 12.85 per cent in trade on Friday to an intraday high of Rs 576.85, before paring some of those gains to trade at Rs 558.95, up Rs 47.80, or 9.35 per cent, from a previous close of Rs 511.15, after the company said it had won a Letter of Intent worth Rs 1,537 crore from Tata Consultancy Services for the BSNL 4G mobile network project. The stock opened sharply higher at Rs 538.00, a gap of more than 5 per cent over its previous close, and touched an intraday low at the same level, with the volume-weighted average price for the session at Rs 561.19 and an indicative close of Rs 557.70. 

Intraday Trade 

The stock’s intraday chart showed a sharp rally soon after the opening bell, with the counter climbing from its opening level of Rs 538.00 to the day’s high of Rs 576.85 within the first hour of trade. The stock then retraced part of that advance, easing back to trade broadly between Rs 555 and Rs 562 through the late morning and afternoon, holding those gains through the rest of the session with only minor fluctuations. The order book showed heavier sell-side interest by the end of trade, with sell quantity of 15,08,662 shares accounting for 70.94 per cent of total volume against buy quantity of 6,17,968 shares, or 29.06 per cent, pointing to some profit-taking even as the stock held on to the bulk of its early gains. 

Tejas Networks Wins Rs 1,537 Crore LoI From TCS For BSNL 4G Project 

Tejas Networks has received a fresh Letter of Intent worth Rs 1,537 crore from Tata Consultancy Services (TCS) for the supply of radio access network, or RAN, equipment, accessories and installation materials for 18,685 sites under the BSNL 4G mobile network project. The latest development is in continuation of the company’s earlier disclosure made on May 21, 2025, regarding the same project, and represents one of the larger single order wins for the domestic telecom equipment maker this year as the BSNL 4G rollout continues to progress in phases. 

Tejas Networks, part of the Tata group, has positioned itself as a key domestic supplier for India’s telecom equipment localisation push, and the scale of this LoI adds meaningfully to its order book at a time when BSNL’s 4G expansion remains a closely watched indicator of the government’s Atmanirbhar Bharat push in telecom manufacturing. 

Why It Matters 

The BSNL 4G rollout has been one of the largest domestic procurement programmes for Indian telecom equipment makers, and order flows tied to the project are closely tracked as a gauge of how well local manufacturers are capturing business that might otherwise have gone to foreign vendors. For Tejas Networks, a sizeable LoI routed through TCS as the systems integrator on the project underscores its role as a preferred RAN equipment supplier for the state-run telecom operator’s network expansion. The order also comes at a time when investor interest in companies tied to the government’s domestic manufacturing push has remained elevated, with sizeable single order wins of this nature often triggering sharp re-ratings in relatively thinly traded counters such as Tejas Networks. 

Outlook 

Investors will now watch for further disclosures on the pace of execution across the 18,685 sites covered under the LoI, as well as any additional order flow from the remaining phases of BSNL’s 4G rollout. With the stock still trading well above its previous close despite the pullback from the day’s high, the heavier sell-side volumes seen through the session suggest some investors are booking profits into the rally, even as the underlying order win continues to support sentiment around the counter over the near term. 

Source

• https://www.nseindia.com/get-quote/equity/TEJASNET/Tejas-Networks-Limited