Tejas Networks bags Rs. 66 crore order for a prestigious Indian Defence Network Project from L&T Construction

Tejas Networks [BSE: 540595, NSE: TEJASNET] announced that it has received a purchase order of Rs. 66 crores from L&T Construction, to supply its GPON based fiber-broadband products and high-performance Metro Ethernet switches for a prestigious Indian defence network project. The order was received during last quarter and the first set of supplies have started this quarter.

Larsen & Toubro (L&T) Construction is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over USD 21 billion in revenue and operating in 30+ countries.

Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, "We are honoured to be selected as a communications equipment supplier for this prestigious Indian defence project. It is a matter of great pride that our designed and made in India GPON OLT/ONT products and Metro Ethernet switches will be deployed in this strategic network. This win reinforces our technology strengths and credibility as a trusted provider of defence communication equipment to tri-services, since we have earlier supplied our DWDM and Layer-3 Multi-Gigabit Ethernet switches for the Indian Navy network and our Layer-2 Gigabit Ethernet switches for the Indian Air Force network. With over 10,000 nodes installed in various defence networks across India, we have demonstrated that we are making great progress towards realizing the vision of "Atmanirbhar Bharat" for secured communication infrastructure".

Shares of Tejas Networks Ltd was last trading in BSE at Rs.60.9 as compared to the previous close of Rs. 60. The total number of shares traded during the day was 4912 in over 45 trades.

The stock hit an intraday high of Rs. 62.65 and intraday low of 60. The net turnover during the day was Rs. 299325.

Source : Equity Bulls

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