This Midcap Stock Is Surging 7% After Bagging ₹7,000 Crore Order From TCS

Shares of Tejas Networks surged up close to 7% on Wednesday to hit an intraday high of ₹869.95.

What Happened: The Tata Group company on Wednesday announced bagging a Purchase Order for an amount of ₹7,492 crore (excluding GST) from another Tata Group company TCS.

The order pertains to the supply of 4G/5G RAN (Radio Access Network) equipment for approximately 1 lakh sites. The order is to be executed by the Company by 2024. Support and maintenance services will be for a period of 9 years post-warranty period.

See Also: This Small Cap Stock’s Q1 Profit Plunged 50%, But Analyst Sees Over 60% Upside

The order is part of a master order from BSNL. The announcement saw shares of the midcap stock go up 7% in early trade.

Price Action: Tejas Networks’ share price was up 4.49% to trade at ₹849.85. TCS’s share price was down 0.11% 3,445.90 in early trade on Wednesday.

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