Vijay Kedia’s portfolio multibagger stock with Rs 9,271 crore order book: This telecom company receives new order worth Rs 107.73 crore from TCS!

The stock gave multibagger returns of over 1,000 per cent in just 3 years whereas BSE Sensex Index is up by 61 per cent.

Tejas Networks Limited informed that the company received a purchase order from Tata Consultancy Services Limited (TCS) for an amount of Rs 107.73 crore towards the supply of equipment for BSNL’s Pan-India 4G/5G network and as a part of the Master Contract executed between TCS and Tejas Networks Limited dated August 16, 2023.

According to the Quarterly Results announced recently, the net sales increased by 80.03 per cent to Rs 395.95 per share in Q2FY24 over Q2FY23. The company reported a net loss of Rs 12.64 crore in Q2FY24 compared to a net loss of Rs 3.16 crore in Q2FY23.

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 Friday, shares of Tejas Networks Ltd surged 2.02 per cent to an intraday high of Rs 906.90 per share from its previous closing of Rs 889.90. At the closing bell, shares of the company were trading at Rs 884 per share, down 0.55 per cent.

The company has a market capitalization of over Rs 15,000 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 1.89 per cent stake in Tejas Networks Ltd. As of September 2023, the company order book stands at Rs 9,271 crore.

The stock gave multibagger returns of over 1,000 per cent in just 3 years whereas BSE Sensex Index is up by 61 per cent. Investors should keep an eye on this telecom stock.

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