Why has Tejas Networks been in the midst of such a sharp price rally?

One of India’s leading telecom network specialist, Tejas Networks, has been touching the upper circuit for the fourth day in succession. This was after leading telecom service provider, Bharti Airtel, selected Tejas Network as its partner for optical network expansion in some of the key metropolitan markets in India. The higher capacity from this expansion will enable Airtel to deliver superior experience to its customers as more data is consumed.

Tejas specializes in selling high-end networking products to telecom companies, Internet Service Providers or ISPs, public utilities, defence establishments and government entities across more than 75 countries. It may be noted that Panatone Finvest, which is the investment wing of Tata Sons, has proposed to buy 43.3% stake in Tejas Networks for Rs.1,850 crore. In short, the news flows have bene robust and positive for Tejas Networks.