With strong Q4 results, this Tata Group stock jumps 20% to a 52-week high; see target price

Tejas Network Share Price Today: Following its outstanding quarterly performance, shares of the telecom equipment manufacturer Tejas Networks jumped 20% on Tuesday to reach a 52-week high of Rs 1,086.90.

Tejas Networks shares locked at the 20% upper circuit at 12:58 p.m. 25,679 shares were the subject of pending purchase orders, and no sellers were available. Over the last year, the stock has increased by around 65%, surpassing the gains of the benchmark Nifty 50, which has increased by 26%.

Due in large part to BSNL’s 4G project performance, the company’s consolidated net profit for the quarter was Rs 146.78, as opposed to a loss of Rs 11.47 crore for the same time last year. All product categories for the telecom equipment manufacturer showed growth, with the wireless division leading the way.

Tejas benefited from significant government spending on BSNL, BharatNet, the railroads, and the PLI initiative, which encouraged local industry. TCom and TCS referrals also aided in the company’s customer acquisition.

The worldwide initiative to replace Chinese telecom equipment also aided in Q4FY24’s strong performance.

According to the most recent ownership pattern that the exchanges have access to, Panatone Finvest, a Tata Group company, is the owner of 55.6% of Tejas Networks. While the public owns 28.3% of the company’s shares, FIIs and DIIs own 11.3% and 4.3% of the shares, respectively.

Emkay Global projects FY25 income from BSNL and Bharatnet execution to be four times that of FY24. Due to their sales forecast exceeding expectations, they saw 6%–7% growth in revenue for FY25 and FY26. Additionally, they increased their EBITDA margin on the margin beat by 150–10bps.

The brokerage has raised its target price for Tejas Networks from Rs 975 to Rs 1,100 in light of the aforementioned outlook.