Tejas Networks shares skyrocket 60% in just 4 sessions! What’s triggering the sharp surge?

Tejas Networks has witnessed a remarkable 60% surge in its share price over the past four trading sessions, peaking at Rs 503 on the BSE. This increase was fueled by a strong market response following the company's recent agreement with NEC Corporation to manufacture and supply 5G massive MIMO radios. The trading volume for the stock also saw a significant uptick, with 7 crore shares exchanged, far surpassing the usual averages. This surge is significant as it comes on the heels of a disappointing financial performance, where Tejas reported a consolidated loss of Rs 196.55 crore for the October-December quarter, marking its second consecutive quarterly loss. The drop in revenue was largely influenced by postponed orders from Bharat Sanchar Nigam Limited (BSNL). Nevertheless, the company remains optimistic about its future, with a focus on expanding its international presence in the 4G and 5G markets. Tejas Networks highlights its advanced product offerings, including high-capacity MIMO radios that adhere to international standards, which positions them favorably for upcoming opportunities in both emerging and established markets.