Tejas Networks Share Price: A Roller Coaster Ride with Impressive Returns
📈 Tejas Networks, a share in the Tata Group, has seen a significant surge in its share price amidst the COVID-19 pandemic. Investors who had faith in the company’s strong fundamentals have reaped great returns.
📊 On April 3, 2020, Tejas Networks was priced at ₹35.40, and now it stands at ₹862.40. This means that investors have witnessed a staggering growth of over 2,336% in their capital in just over three years.
💰 The short-term performance of Tejas Networks has also been remarkable, delivering a 69% return within 11 months this year. Recognizing the company’s robust business, leading brokerage firm MK Global has recommended investing in its shares.
💼 Tejas Networks is expected to fulfill orders worth ₹9,270 crores by the end of the September quarter. Additionally, the company anticipates securing even larger orders in the coming days, benefiting from the government’s focus on domestic production.
⚙️ With the acquisition of Sankhya Labs for wireless solutions, the low-cost advantage of R&D, and the expertise of CEO Anand Aatre, leveraging his 35 years of American experience, Tejas Networks is poised for significant growth.
🤝 Furthermore, the entry of the Tata Group into the semiconductor business can provide additional support to Tejas Networks’ operations. According to brokerage firm estimates, the company’s revenue in the fiscal year 2025 could be five times higher compared to FY 2024.
🎯 Keeping all these factors in mind, MK Global has initiated coverage on Tejas Networks with a target price of ₹1050 and a buy rating.
📉 After trading at ₹510.05 on January 30, 2023, Tejas Networks’ share price experienced an impressive surge of over 84% in just nine months, reaching a record high of ₹939 on October 18, 2023. While the stock is currently trading 8% below its peak, it has the potential to surpass its record high, as per brokerage targets.
Tejas Networks’ journey in the stock market has been nothing short of a roller coaster ride, offering investors substantial returns. With its strong business prospects and the backing of the Tata Group, Tejas Networks is definitely a stock to watch out for in the coming years.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
