Latest news with #TataGroup-backed
Mint
21-05-2025
- Business
- Mint
Tejas Networks share price climbs 5% on ₹1,525 crore BSNL order for 4G equipment supply
Tejas Networks share price in focus: Tejas Networks, a Tata Group-backed company, saw its shares surge 5% in Wednesday's trading session, May 21, hitting the day's high of ₹ 759.50 apiece after the company announced a significant order win. The company informed investors through an exchange filing that, pursuant to the Master Contract between Tata Consultancy Services Limited (TCS) and Tejas Networks for the supply of goods and/or services for the BSNL 4G project, it has received an add-on Advance Purchase Order from BSNL for the supply, deployment, and maintenance of 4G mobile networks at 18,685 sites. As per the company's regulatory filing, the value of supplies for the Radio Access Network (RAN) and other equipment to TCS from Tejas for this deployment is expected to be approximately ₹ 1,525.53 crore (exclusive of taxes). Earlier, the company stated that it had completed the supply of telecom equipment to BSNL to set up one lakh sites for 4G and 5G services under the deal awarded in August 2023. Tejas Networks had won the ₹ 7,492-crore deal after completing extensive trials as part of a consortium led by TCS. BSNL is expected to launch its 4G services in June — about nine years after private operators rolled out theirs. The BSNL network is planned to be upgraded to 5G services after the stabilization of 4G operations. Tejas Networks' shares had witnessed a sharp decline between mid-April and early May, losing 19% of their value after the company reported a weak set of numbers for the March-ended quarter. It posted a consolidated loss of ₹ 72 crore, despite a 44% increase in revenue from operations to ₹ 1,907 crore during the quarter. For the full year ended March 31, 2025, Tejas Networks reported a multifold jump in consolidated profit to ₹ 446.53 crore and more than a threefold rise in revenue from operations to ₹ 8,923 crore. During the quarter, Tejas Networks also signed a strategic technology collaboration agreement with NEC Corporation, Japan, for the development of advanced wireless technologies, including Radio Access Network (RAN), Core, and EPC systems, as well as for a joint go-to-market strategy. In December, Tejas bagged a three-year contract with Vodafone Idea Ltd (VIL) to supply telecom gear aimed at enhancing backend network capacity across multiple circles. Chief Operating Officer Arnob Roy said the company had completed the shipment and execution of the Phase 1 order under this project. Tejas Networks is part of the Tata Group, with Panatone Finvest (a subsidiary of Tata Sons) as its majority shareholder. The company designs and manufactures high-performance wireline and wireless networking products for telecom service providers, internet service providers, utilities, defense, and government entities in over 75 countries.
Mint
21-05-2025
- Business
- Mint
Tejas Networks share price climbs 5% on ₹1,525 crore BSNL order for 4G equipment supply
Tejas Networks share price in focus: Tejas Networks, a Tata Group-backed company, saw its shares surge 5% in Wednesday's trading session, May 21, hitting the day's high of ₹ 759.50 apiece after the company announced a significant order win. The company informed investors through an exchange filing that, pursuant to the Master Contract between Tata Consultancy Services Limited (TCS) and Tejas Networks for the supply of goods and/or services for the BSNL 4G project, it has received an add-on Advance Purchase Order from BSNL for the supply, deployment, and maintenance of 4G mobile networks at 18,685 sites. As per the company's regulatory filing, the value of supplies for the Radio Access Network (RAN) and other equipment to TCS from Tejas for this deployment is expected to be approximately ₹ 1,525.53 crore (exclusive of taxes). Earlier, the company stated that it had completed the supply of telecom equipment to BSNL to set up one lakh sites for 4G and 5G services under the deal awarded in August 2023. Tejas Networks had won the ₹ 7,492-crore deal after completing extensive trials as part of a consortium led by TCS. BSNL is expected to launch its 4G services in June — about nine years after private operators rolled out theirs. The BSNL network is planned to be upgraded to 5G services after the stabilization of 4G operations. Tejas Networks' shares had witnessed a sharp decline between mid-April and early May, losing 19% of their value after the company reported a weak set of numbers for the March-ended quarter. It posted a consolidated loss of ₹ 72 crore, despite a 44% increase in revenue from operations to ₹ 1,907 crore during the quarter. For the full year ended March 31, 2025, Tejas Networks reported a multifold jump in consolidated profit to ₹ 446.53 crore and more than a threefold rise in revenue from operations to ₹ 8,923 crore. During the quarter, Tejas Networks also signed a strategic technology collaboration agreement with NEC Corporation, Japan, for the development of advanced wireless technologies, including Radio Access Network (RAN), Core, and EPC systems, as well as for a joint go-to-market strategy. In December, Tejas bagged a three-year contract with Vodafone Idea Ltd (VIL) to supply telecom gear aimed at enhancing backend network capacity across multiple circles. Chief Operating Officer Arnob Roy said the company had completed the shipment and execution of the Phase 1 order under this project. Tejas Networks is part of the Tata Group, with Panatone Finvest (a subsidiary of Tata Sons) as its majority shareholder. The company designs and manufactures high-performance wireline and wireless networking products for telecom service providers, internet service providers, utilities, defense, and government entities in over 75 countries. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Reuters
28-02-2025
- Business
- Reuters
Indian grocery giant BigBasket eyes IPO in 2 years as business booms
Feb 28 (Reuters) - India's BigBasket is planning to go public in the next 18 to 24 months, its CEO said, as the Tata Group-backed grocery giant seeks to tap surging demand for quick online deliveries of everything from fruits to Apple iPhones. The company is on track to double its business year-on-year by March 2026 and expand to about 70 Indian cities from 35 currently over the next year, CEO Hari Menon told Reuters on the sidelines of a retail summit in Mumbai. He stopped short of detailing any investment plans. BigBasket's plans for its listing in India come as the domestic quick commerce industry sees high double-digit sales growth, with rivals such as Swiggy's Instamart and Zomato's Blinkit racing to make the most of red-hot demand for 10-minute deliveries in urban metros. Zomato ( opens new tab and recently listed Swiggy ( opens new tab are also increasing their investments to ramp up offerings, open more warehouses and win market share, as the quick commerce industry defies a broader economic slowdown in the country. "Assortment is the play, in my view," said Menon, whose firm is also expanding its range of products to include electronics, pharmaceuticals and fashion categories. Quick commerce makes up about 80% of BigBasket's revenue, he said. The grocery delivery firm, in which Tata Sons [RIC:RIC: has a majority stake, is also set to roll out quick food deliveries, Menon said without laying out a timeline, a move that will pit the company against other 10-minute food services such as Zomato's "Bistro", Swiggy's "Bolt" and Zepto's "Zepto Cafe".
