Tejas Networks at 5% UC

Tejas Networks, which had closed on Friday at Rs.61.75, opened 5% higher at Rs.64.80, hitting the 5% UC of the day. Almost 57k pending buy bids remained on the counter.

The stock is up because it announced receipt of order to the tune of Rs.32 crore from Sterlite Technologies (STL) and L&T Construction.

This if for its GPON (Gigabit Passive Optical Network) fiber-to-the-home (FTTH) equipment for a state-led Bharatnet project in south India.

Tejas Networks will supply its state-of-the-art GPON OLT and ONT products for this project, which is being funded as a part of BharatNet, the world’s largest rural broadband project that aims to deliver high-speed Internet connectivity over optical fiber to all the villages in India.

Tejas Networks is already the leading supplier of GPON OLT/ONT products for BharatNet Phase1 project and has been honoured by Government of India as one of the best performing equipment suppliers for BharatNet Phase-1.

The company said that its GPON and NG-PON products are clearly emerging as globally competitive on all aspects and are being deployed by Tier-1 service providers both in India and around the world.