Saankhya Labs receives provisional purchase order worth Rs. 96.42 Crores

Saankhya Labs, a subsidiary of Tejas Networks [BSE: 540595, NSE: TEJASNET], today announced that it has received a Provisional Purchase order worth Rs. 96.42 Crores (excluding GST) from NSIL (NewSpace India Limited, a wholly owned Government of India undertaking/Central Public Sector Enterprise (CPSE), under the administrative control of Department of Space). The order is for Supply, Installation and Commissioning of Two-Way MSS Terminals (Xponders) for Vessel communication and Support System in Marine Fishing Vessels for Monitoring, Control and Surveillance (MCS) along the coastal states of India.

As part of this contract, Saankhya Labs in co-ordination with NSIL, ISRO and the Department of Fisheries shall deploy its indigenously designed and developed satellite terminals (Xponders) on motorized and mechanized fishing vessels. Once commissioned, the network shall provide vessel communication and support system enhancing the safety and security for fishermen and would mitigate sea-borne threat concerns from national security perspective. The Xponders also enable navigational assistance, automatic boundary crossing alarm and emergency weather alerts to fishermen.

"We are delighted to win this prestigious contract from NSIL. Having operationalized a similar project for mechanized vessels in Tamil Nadu in partnership with ISRO earlier, we are fully geared up to support Government of India's efforts to deploy this network across the coastal states of India" said Mr. Parag Naik, CEO and Co-founder of Saankhya Labs. "It is a matter of pride for us as our award-winning, truly Made in India Satcom Xponders powered by Saankhya's SDR chipsets are getting deployed in one of the largest Satellite-IoT deployments in the world".

This project not only aims at improving fishermen's livelihood and safety but also helps promote deployment of indigenous satcom solutions operating on ISRO satellite in the service of the nation, a true testimony to self-reliance (Atmanirbhar Bharat) in Satcom.

Shares of Tejas Networks Limited was last trading in BSE at Rs. 829.50 as compared to the previous close of Rs. 832.00. The total number of shares traded during the day was 72611 in over 3787 trades.

The stock hit an intraday high of Rs. 846.90 and intraday low of 821.00. The net turnover during the day was Rs. 60714833.00.

Source : Equity Bulls

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