Shares of the Bengaluru-based telecom solutions provider - Tejas Networks - were locked in a 5 per cent upper circuit at Rs 137.45 on the BSE after the company informed exchanges that it has secured an international order worth $13 million from South East Asian region. (Track Tejas Networks share price here)
"Tejas Networks received a purchase order of $13 million from a leading telecommunications service provider in South East Asia. As per the contract, Tejas will supply and install its award-winning TJ1400 ultra-converged broadband products (TJ1400UCB) to extend high-speed broadband services to underserved rural communities in the region. The project is expected to be executed within the next 12 months," the company said in a press release.
"We are delighted to be chosen for this prestigious project that will enable a sizable rural population to experience the tangible benefits of high-speed, reliable and affordable wireless internet for the first time. TJ1400UCB is an innovative product that provides the flexibility to rapidly rollout broadband services on optical fiber, wireless or copper media, as per available infrastructure, at highly affordable costs," Sanjay Nayak, Managing Director and CEO of Tejas Networks said in a statement.
Tejas Networks designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries.
As of 1:36 pm, there were a total of 58,882 pending buy orders on the BSE while there were no sellers on the BSE.