Tejas Networks receives approval under Design-led PLI scheme for Telecom and Networking Products

Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that the Department of Telecommunications (DoT) has approved its application under Government of India's Design-led Production Linked Incentive (PLI) scheme for manufacturing of Telecom and Networking products. In its application, the company has committed to make a minimum cumulative capital investment of Rs 750 crore over the scheme period.

Mr. Sanjay Nayak, CEO & Managing Director of Tejas Networks said, "We thank the Department of Telecommunications (DoT), Ministry of Communications and SIDBI for approving our application under the Design-led Manufacturing scheme for telecom and networking products. This is an excellent policy of Government of India to promote Indian R&D and IPR for the creation of world-class telecom products with high domestic value addition, where they give additional incentive for Indian designed and manufactured products. As India's leading R&D-driven telecom products company, we look forward to contributing to the creation of a strong domestic ecosystem in next-generation telecom and networking products and help in realizing the vision of an Atmanirbhar Bharat in the telecom sector."

Shares of Tejas Networks Limited was last trading in BSE at Rs. 678.60 as compared to the previous close of Rs. 686.60. The total number of shares traded during the day was 60020 in over 2317 trades.

The stock hit an intraday high of Rs. 695.00 and intraday low of 670.10. The net turnover during the day was Rs. 41017777.00.

Source : Equity Bulls

Keywords

TejasNetworks INE010J01012 DoT Approval PLIScheme Application