Vijay Kedia Portfolio StocksTejas Networks share price touched the upper circuit of 5 per cent in early trade on Thursday after receiving orders from Bharti Airtel for optical network expansion in major metropolitan markets. Experts believe that the share of Tejas Networks may continue to move northwards in the long term as such orders are expected to continue to flow in the wake of the Made in India 5G launch. He advised investors that any fall in the counter should be viewed as a buying opportunity.
Speaking on the reason behind such rapid growth in the Vijay Kedia Portfolio stock; Avinash Gorakshakar, Head of Research, Profitmart Securities, said, “This sharp rise in the share price of Tejas Network is due to Bharti Airtel’s order to augment Airtel’s optical network capacity. Such order flows are expected to continue as Tejas Networks is a telecom hardware manufacturer. And after the Government of India (GoI) has announced to make 5G completely in India, Tejas Networks is expected to be the major beneficiary of this move by the Government of India.”
Avinash Gorakshakar said Tejas Networks share price is expected to continue to rise sharply as more orders may come before 5G roll out. He advised investors to follow the strategy of ‘buy on dips’ in this Vijay Kedia counter and hold for long term.
exposure level with respect to Tejas Network shares; Mudit Goel, Senior Research Analyst, SMC Global Securities said, “Tejas Network has been rising since last few trading sessions and hence profit-booking is awaited in this Vijay Kedia counter. Profit-booking should wait as it may go down . To ₹360 per share level.”
Tejas Networks today announced that it has been selected by Bharti Airtel to enhance Airtel’s optical network capacity in key metropolitan markets. Tejas will supply, install and support its state-of-the-art products to reach the edge of Airtel’s optical network, supporting 5G backhaul, B2B services and broadband applications.
Speaking on development; Randeep Sekhon, Chief Technology Officer, Bharti Airtel said, “Airtel is making significant investments to expand its Metro network capacity as part of its 5G readiness and drive bandwidth consumption by fixed line and enterprise customers. We are delighted to partner with Tejas in this major network intervention that will enable us to deliver a world-class experience to our customers.”
Commenting on Bharti Airtel’s order; Sanjay Nayak, Managing Director and CEO, Tejas Networks said, “Under this new contract, we will provide our multi-terabit products to expand Airtel’s Metro network capacity to the network edge. We are pleased to see that our platform, with its “pay-as-you-grow” modular design, supports 100Gbps to 600Gbps wavelengths and a universal OTN/DWDM architecture offering advanced bandwidth expansion and optimization , is gaining significant traction among the major telecom service providers. all over the world.”
As per the shareholding pattern for the April to June 2021 quarter, Vijay Kishanlal Kedia holds 110000 shares or 1.18 per cent stake in Tejas Networks, while his firm Kedia Securities holds 4.17%.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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