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Tejas Networks shares spurt 23% in four days after Rs 123 crore PLI incentive

21-Mar-25   16:24 Hrs IST
This sharp rise follows the company's recent announcement of receiving Rs 123.45 crore under the Production Linked Incentive (PLI) Scheme. '

The company announced on 13 March 2025, that it had received the incentive from the Ministry of Communications, Department of Telecommunications, New Delhi, for the financial year 2023-24.

This payment is part of the PLI scheme designed to boost domestic manufacturing of telecom and networking products. '

The positive news has fueled a strong rally for Tejas Networks, with the stock climbing 23% in four consecutive sessions, recovering from a recent low of Rs 649.70 on 17 March 2025.

However, despite this recent uptrend, Tejas Networks' stock is still remains down approximately 33% year-to-date in 2025. It is also significantly below its all-time high of Rs 1495, which was reached on 27 June 2024, currently sitting at a 46.56% decrease from that high point.

Tejas Networks designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries.

Tejas Networks is a part of the Tata Group, with Panatone Finvest (a subsidiary of Tata Sons) being the majority shareholder with a 54.01% stake as on December 2024.

On a consolidated basis, Tejas Networks reported a net profit of Rs 165.57 crore in Q3 FY25 as against net loss of Rs 44.87 crore in Q3 FY24. Net sales soared 345.98% YoY to Rs 2,497.30 crore in Q3 December 2024 over Q3 December 2023. The company's order book at the end of Q3 FY25 stood at Rs 2,681 crore.

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