Tejas Networks Ltd. Share Price

TELECOM TURNAROUND: WHO COULD BENEFIT IF TARIFFS RISE?

Imagine India’s telecom market as a three-lane highway. For years, companies focused on adding users, while pricing remained under pressure. Now, the bigger question is: **What happens if tariffs rise?** A recent Jefferies report has put **Vodafone Idea Ltd. (NSE: IDEA)** back in the spotlight, calling it a **high-beta turnaround opportunity**. Jefferies initiated coverage with a ₹20 target versus ₹15.51 previous close, implying around 30% potential upside. The interesting part is not simply the target price—it is the *business logic*. If subscriber losses stabilise, ARPU improves and tariffs increase, Vodafone Idea could potentially see stronger revenue and operating leverage. Jefferies estimates revenue CAGR of about 11% during FY26–29 and cash EBITDA CAGR of about 25% through FY31. 📌 **Possible Nifty 500 stocks to study for telecom-sector benefits:** • **

** — Highest tariff sensitivity, but also highest turnaround and funding risk. • **Bharti Airtel** — A major telecom operator that could benefit from industry-wide pricing improvement. • **Indus Towers** — Higher network investment and 5G expansion can support tower demand. • **HFCL** — Telecom equipment and optical-fibre exposure could benefit from network expansion. • **Tejas Networks** — Telecom-network equipment exposure makes it another company worth studying. But every story has another chapter. Vodafone Idea’s major challenge remains funding: Jefferies expects substantial future cash requirements and a possible ₹16,000 crore equity infusion around FY30. **Telecom tariff hikes can improve industry profitability, but investors must study debt, funding needs, competition, valuations, and execution risks carefully.** ⚠️ **Educational purpose only:** This is not a stock tip, recommendation, or investment advice. Targets mentioned are those of Jefferies, not my recommendation. Do your own research and consult a SEBI-registered investment professional before making investment decisions.

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Jio IPO: One Listing, Many Market Ripples

Jio Platforms is preparing to begin investor outreach as early as next week, with discussions pointing toward a potential November IPO. The company has received SEBI approval and plans to issue up to 270 million new shares, with part of the proceeds intended for debt repayment. When a giant enters the public market, the impact can travel through an entire ecosystem. Telecom & Digital

, Bharti Airtel, Indus Towers, HFCL, Tejas Networks Jio's public-market journey could keep investor attention focused on India's connectivity, 5G and digital infrastructure theme. Capital Markets BSE, MCX, Computer Age Management Services (CAMS) A strong IPO cycle can increase investor participation, trading activity and demand for market infrastructure. India's IPO pipeline is already substantial, with Jio and NSE among the headline offerings. Financial Ecosystem HDFC Bank, ICICI Bank, State Bank of India Large IPOs can create financing, banking and transaction opportunities while also attracting fresh domestic and global capital. A major IPO can create a **ripple effect across sectors**, but “beneficiary” does not automatically mean “buy.” Investors should separately evaluate earnings, valuation, competitive position, regulatory risk and the final IPO structure. Major IPOs can influence entire market ecosystems, but investors must distinguish genuine business benefits from temporary market excitement. ⚠️ **Educational purpose only. Not a stock tip, recommendation, or investment advice.** :::

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Tejas Networks — SWOT Analysis NSE: TEJASNET

Strengths Strong R&D capability: More than 65% of employees are engaged in R&D, with 722 cumulative global patent filings as of Q1 FY27. Tata Group backing: Panatone Finvest, a Tata Sons subsidiary, is the majority shareholder, providing strategic support and credibility. BSNL 4G/5G opportunity: Tejas is a key technology supplier for BSNL's indigenous 4G/5G network and has completed major 4G network deployments. Weaknesses Large losses: FY26 revenue was ₹1,103 Cr, but the company reported a PAT loss of ₹909 Cr. High debt: At June 30, 2026, net debt was approximately ₹4,277 Cr, with gross debt of ₹4,866 Cr and cash of ₹589 Cr. Revenue volatility: FY26 revenue fell sharply from ₹8,923 Cr in FY25 to ₹1,103 Cr, reflecting the uneven nature of large telecom-project execution. Opportunities 5G rollout: India's continuing 5G expansion provides a large potential market for Tejas' wireless products. BharatNet Phase III: Additional BharatNet execution can provide meaningful order and revenue visibility. International 5G: Commercial wins in South America and growing engagements with international operators could diversify revenue beyond India. Threats High financial leverage: Elevated debt increases interest costs and balance-sheet risk while the company remains loss-making. Execution risk: Large BSNL, BharatNet and international contracts require timely manufacturing, deployment and acceptance. Technology obsolescence: Rapid changes in telecom technology require continuous and expensive R&D investment. Customer concentration: Dependence on a limited number of large customers can create substantial revenue fluctuations. Global competition: Tejas competes with large international telecom-equipment companies with greater financial and technological resources.

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Tejas Networks Gains on Telecom Expansion

Tejas Networks remains in focus as India accelerates the rollout of 5G, optical fibre and next-generation telecom infrastructure, supporting demand for indigenous networking equipment. The company is benefiting from opportunities in telecom and broadband infrastructure, with its technology portfolio positioned to support large-scale network expansion and modernisation. Government initiatives promoting domestic telecom manufacturing and self-reliance could provide additional growth opportunities for Tejas Networks, while investors will track order inflows and execution. With increasing digital connectivity and telecom infrastructure spending, Tejas Networks remains a key stock to watch in the Indian telecom equipment sector.

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Tejas Networks has recently received a ₹1,537 crore Letter

Tejas Networks has recently received a ₹1,537 crore Letter of Intent from Tata Consultancy Services (TCS) for supplying RAN equipment, accessories and installation material for 18,685 BSNL 4G sites, making this a major positive trigger because the order value is roughly equal to the company’s entire Q1 FY27 order book of ₹1,529 crore. In Q1 FY27, revenue increased 99% YoY to ₹402 crore, supported by international 5G radio shipments and domestic 100G/400G optical and FTTx products; however, the company continued to report a net loss of ₹202 crore and EBITDA loss of around ₹100 crore. The order book at the end of June 2026 stood at ₹1,529 crore, with 93% from India and 7% from international markets, while the latest TCS-BSNL order can significantly improve future revenue visibility once the detailed purchase order is issued. Internationally, Tejas has achieved its first commercial end-to-end 5G network deployment win in South America and has seen demand for its optical, packet and broadband products from telecom operators and utilities.

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Tejas Networks: Strong Breakout Momentum

has witnessed a strong bullish move, gaining more than 8% in the latest session and closing near ₹614. The stock has shown a sharp recovery from its recent lows and is now trading above its key short- and medium-term moving averages, indicating improving technical strength. The immediate resistance is visible near ₹643, which is an important breakout level. A sustained move and close above ₹643 could strengthen the bullish momentum further and may open the door for higher levels in the coming sessions. On the downside, the ₹570–₹550 zone remains an important support area, supported by the 10-day and 20-day moving averages. A fall below this zone could weaken the current positive structure. Momentum indicators are also supportive. The MACD has turned positive and is showing improving bullish momentum. However, the RSI is near 72, indicating that the stock has entered an overbought zone. Therefore, some profit booking or short-term consolidation cannot be ruled out after the sharp rally. Outlook The overall short-term outlook remains bullish as long as Tejas Networks holds above the ₹550–₹570 support zone. Traders should watch ₹643 closely, as a decisive breakout above this level could trigger the next leg of the upmove. However, considering the elevated RSI, fresh entries may be better considered on confirmation of breakout or on dips rather than chasing the stock after a sharp rise.

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