Valiant Communications [BSE: 526775] announced the receipt of order for supply and commissioning of its indigenously developed and manufactured Communication, Protection and Synchronization solutions from Tejas Networks Limited [NSE: TEJASNET], a Tata Group company. The total value of the order is approximately INR 19 Crores (INR 190 million) for the State Electricity Board of Madhya Pradesh covering over 400 power sub-stations. This Purchase Order is in addition to the erstwhile orders which were disclosed in the earlier press release of 31-03-2022.
Commenting on the above development, Mr. Inder Mohan Sood, CEO said, "We feel proud of partnering with Tejas Networks for these opportunities of supplying its Communication, Protection and Synchronization solutions that have been designed, developed and manufactured indigenously. We value our relationship with Tejas, which is time proven now. Being indigenous manufacturers, both Tejas and Valiant are natural partners in business opportunities that are notably arising in the Indian Public Sector out of the 'Make in India' and 'Atmanirbhar Bharat' initiatives of our Hon'ble Prime Minister of India. Our efforts in R&D are beginning to pay-off. Not only is Valiant providing advanced products and technology solutions to its customers worldwide, but our cutting-edge technology solutions are now being offered for some of the most advanced, Information Technology (IT) and Power Sector applications. This demonstrates and reaffirms our vision to become the leading manufacturer and supplier of communications, transmission, protection, synchronization and cyber security products and solutions, globally".
He further said "These back-to-back successes further strengthen our decade long relationship with Tejas. It is a testimony that our natural partnership is a winning combination in all business opportunities falling under 'Make-in-India' wherein, Tejas and Valiant compete as a team against foreign MNCs. We expect the same to be continued in other forthcoming opportunities in India and worldwide opportunities."
Shares of Tejas Networks Limited was last trading in BSE at Rs. 407.75 as compared to the previous close of Rs. 406.60. The total number of shares traded during the day was 34310 in over 1855 trades.
The stock hit an intraday high of Rs. 414.00 and intraday low of 398.50. The net turnover during the day was Rs. 13979385.00.
Shares of VALIANT COMMUNICATIONS LTD. was last trading in BSE at Rs. 81.15 as compared to the previous close of Rs. 80.35. The total number of shares traded during the day was 8571 in over 41 trades.
The stock hit an intraday high of Rs. 82.00 and intraday low of 76.40. The net turnover during the day was Rs. 679785.00.