Valiant Communications Ltd's JV receives LOI from The Gujarat Energy Transmission Corporation

Valiant Communications [BSE: 526775] announces that its joint venture with the Tejas Networks Limited [NSE: TEJASNET], a Tata Group company, has received the Letter of Intent from the Gujarat Energy Transmission Corporation (GETCO). This joint venture with the TEJASNET is formed exclusively for Project # 2 of GETCO. This Letter of Intent (LOI) is in addition to Project 1 of GETCO, which was announced earlier on January 10, 2025.

Being the Lead Bidder, the Letter of Intent (LOI) is issued to Tejas. The approximate gross value of Valiant' portion is INR 3,900 Lacs, wherein, Valiant shall supply and commission its Communication, Protection and Synchronization equipment under the aforesaid project for the end-user i.e. GETCO.The Purchase Order and the detailed contract will be followed in due process and the same shall be disclosed accordingly.

Commenting on the above development, Mr. Inder Mohan Sood, CEO said, "We are proud of being a partner with Tejas for these business opportunities. Being the indigenous manufacturer, Valiant is a natural partner 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.

We also wish to express our sincere gratitude to the Government of India, which helps us in the scaling up these opportunities."

Shares of VALIANT COMMUNICATIONS LTD. was last trading in BSE at Rs. 385.80 as compared to the previous close of Rs. 361.95. The total number of shares traded during the day was 12065 in over 310 trades.

The stock hit an intraday high of Rs. 388.90 and intraday low of 355.00. The net turnover during the day was Rs. 4546299.00.

Source : Equity Bulls

Keywords

VALIANTCOMMUNICATIONS INE760B01019 TelecomEquipment JV LOI OrderWin GETCO