Vijay Kedia’s multibagger stock: Subsidiary receives order worth Rs 96,42,00,000 from NewSpace; don’t miss the action!

Under this contract, Saankhya Labs, in collaboration with NSIL, ISRO, and the Department of Fisheries, will deploy its indigenously designed and developed satellite terminals (Xponders)

Friday has unfolded as an exceptional day for the markets, witnessing the Nifty 50 index surging to the 21,000 mark, fueled by active participation from Nifty IT and Nifty Bank. Adding to the market dynamics, the Reserve Bank of India, in its meeting on December 8, opted to maintain its key interest rate for the fifth consecutive time. The decision was rooted in the potential resurgence of inflation, emphasizing the central bank's unwavering commitment to prioritizing price stability.

Amid this optimistic market sentiment, one stock that has captured the spotlight is Tejas Networks Ltd. The stock has experienced a notable 1.5 per cent surge, with over 3 lakh shares traded on the NSE exchange. This surge can be attributed to a significant development announced by Saankhya Labs, a subsidiary of Tejas Networks. Saankhya Labs revealed that it has secured a Provisional Purchase Order valued at Rs. 96.42 Crores (excluding GST) from NSIL (NewSpace India Limited), a Government of India undertaking under the Department of Space.

The order pertains to the Supply, Installation, and Commissioning of Two-Way MSS Terminals (Xponders) for Vessel communication and Support System in Marine Fishing Vessels for Monitoring, Control, and Surveillance (MCS) along the coastal states of India. Under this contract, Saankhya Labs, in collaboration with NSIL, ISRO, and the Department of Fisheries, will deploy its indigenously designed and developed satellite terminals (Xponders) on motorized and mechanized fishing vessels. The resulting network is expected to enhance safety and security for fishermen, addressing sea-borne threat concerns from a national security perspective. The Xponders will also provide navigational assistance, automatic boundary crossing alarms, and emergency weather alerts to fishermen.

This project not only aims at improving the livelihood and safety of fishermen but also contributes to the promotion of indigenous satcom solutions operating on ISRO satellites, aligning with the vision of a self-reliant India (Atmanirbhar Bharat) in Satcom.

Remarkably, Tejas Networks Ltd has transformed from its March 2020 lows of Rs 28.90 to reach Rs 845 as of December 8, 2023, establishing itself as a multibagger stock. An intriguing detail surfaces about the stock as ace investor Vijay Kedia, through his firm Kedia Securities Private Limited, holds a significant 1.89 per cent stake in the company, equivalent to 3,200,000 shares. This investment further underscores the stock's potential and market confidence in its growth trajectory.

Disclaimer: The article is for informational purposes only and not investment advice.