Vijay Kedia’s Portfolio Multibagger Stock: This telecom company receives order worth Rs 7,492 crore from Tata Consultancy Services
The stock gave multibagger returns of over 1,150 per cent in just 3 years whereas BSE Sensex Index is up by 72 per cent.
Tejas Networks Limited informed that the company has executed with Tata Consultancy Services Limited (TCS), a related party of the company, the master contract towards supply, support and annual maintenance services for radio access network (RAN) equipment for BSNL’s Pan-India 4G/5G network.
As a part of this contract, the company received a purchase order (PO) for an amount of Rs 7,492 crore (excluding GST) or (approx. USD 900 million) from TCS towards the supply of 4G/5G RAN equipment for approximately 100,000 sites. The company executed the master contract and received the PO from TCS on August 15, 2023.
Tejas Networks Ltd is a global R&D-driven telecom equipment company headquartered in India. It designs, develops and manufactures high-performance optical and data networking products that are used by telecom service providers, utilities, government and defence networks.
On Thursday, shares of Tejas Networks Ltd jumped 6.62 per cent to an intraday high of Rs 869 per share from its previous closing of Rs 815.05. At the closing bell, shares of the company were trading at Rs 842.80 per share, up 3.40 per cent with a spurt in volume by more than 2.75 times on BSE.
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The company has a market capitalization of over Rs 14,000 crores and is almost debt-free, with a current debt of only Rs 49.8 crores. Vijay Kedia, an ace investor, owns Kedia Securities Private Limited, which has a 2.01 per cent stake in Tejas Networks Ltd.
The stock gave multibagger returns of over 1,150 per cent in just 3 years whereas BSE Sensex Index is up by 72 per cent. Investors should keep an eye on this telecom stock.
Disclaimer: The article is for informational purposes only and not investment advice.