Tejas Networks’ stock surged by 7% on October 18, ahead of the company’s Q2 earnings announcement later in the day, driven by a sharp rise in trading volumes. Approximately 18 lakh shares were traded, significantly higher than the one-month average of 4 lakh shares. As of 11:36 am, the stock was trading at Rs 1,194 on the NSE. However, despite today’s gain, the stock has dropped nearly 17% over the past three months.
In terms of operations, Tejas Networks expects to complete the deployment of network equipment and infrastructure for Bharat Sanchar Nigam Ltd (BSNL)’s 4G rollout by the end of this fiscal year. The company is also wrapping up network equipment trials with Vodafone-Idea, aiming to finish them by the end of this month, according to N. Ganapathy Subramaniam, telecom strategic advisor at Tata Consultancy Services (TCS) and chairman of Tejas Networks’ board.
In partnership with TCS, Tejas Networks aims to deploy 75,000 network sites, or towers, by the end of this year. Although there have been delays due to challenges in remote areas, including power and infrastructure issues, the network is nearly ready. The full deployment is expected to be operational by the fiscal year’s end.
TCS secured a $1.83 billion contract from BSNL last year for this network rollout, marking one of the largest telecom contracts globally, with a two-year timeline for completion.
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