Tejas Networks shares jumped nearly 10% in morning trade on Friday after the company received a ₹1,537-crore Letter of Intent (LoI) from Tata Consultancy Services (TCS) for equipment required for BSNL’s 4G network expansion.
The stock rose 9.88% to ₹561.30, marking its strongest single-session gain in 16 weeks.
The company said the LoI covers radio access network (RAN) equipment, accessories and installation materials for 18,685 BSNL sites. A detailed purchase order is expected to be issued by TCS subsequently.
TCS Order Exceeds Existing Order Book
The latest business is particularly significant because the LoI is slightly larger than Tejas Networks’ entire order book at the end of the June quarter. The company had an order backlog of ₹1,529 crore as of June, making the new ₹1,537-crore order a major addition to its pending business.
The order is connected to BSNL’s planned 4G network expansion. TCS had received an additional advance purchase order worth ₹2,903 crore from BSNL in May 2025 for work covering planning, engineering, equipment supply, installation, testing, commissioning and maintenance across the 18,685 sites.
Tejas Networks had previously indicated that its share of this project could be worth around ₹1,526 crore. The latest LoI therefore formalises the anticipated order.
Tejas Networks Looks to Rebuild Revenue
Tejas Networks has played a key role in BSNL’s indigenous 4G deployment, supplying RAN equipment and radio infrastructure. The company had earlier secured a ₹7,492-crore order for equipment covering roughly 100,000 BSNL sites.
The new order comes as Tejas Networks seeks to rebuild revenue after much of the initial rollout was completed. Its June-quarter revenue nearly doubled year-on-year to ₹402 crore, although its net loss widened to ₹202 crore from ₹194 crore.
The company ended the quarter with gross debt of ₹4,866 crore, cash of ₹589 crore and net debt of ₹4,277 crore.
