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Vijay Kedia portfolio: Tejas Networks share price has been moving upside after the announcement of its definitive agreement to acquire 64.4 per cent stake in Saankhya Labs Private Ltd. The telecom hardware company is expected to get benefit from Tata investment and made in India 5G roll out as well. Hence, Dalal Street has gone abuzz over this Vijay Kedia stock after near 6 months of consolidation. The multibagger stock has been hitting upper circuit for last 3 trade sessions.

Speaking on what's fueling Tejas Networks share price; Ravi Singh, Head of Research & Vice President at Share India said, "Tejas Networks shares are moving northward since the company has signed definitive agreement to acquire 64.4 per cent stake in Saankhya Labs Private Ltd for 283.94 crore in cash. Saankhya is a premier wireless communication and semiconductor solutions company based out of Bengaluru. The acquisition of Saankhya will not only enhance the Company's wireless offerings but also it's customer base in India and international markets."

Highlighting the existing fundamentals of the company; Ravi Singhal, Vice Chairman at GCL Securities said, "After the announcement by the Indian government that 5G roll out in India will be 100 per cent made in India, Tejas Networks is expected to emerge as one of the major beneficiaries of this Government of India's move. Apart from this, Tata group has made investment in this telecom hardware company that means there is high probability of TataSky will use Tejas Networks advanced tech and expertise leading to more revenue for both companies. So, after 6 months of consolidation, we are witnessing sharp upside move in this multibagger stock."

Commenting upon Tejash Networks share price chart pattern, Ravi Singh of Share India said, "On technical setup, the stock is in a cycle of making higher high and higher low from the swing low of 360 levels indicating inherent strength in the counter. On the daily chart, the stock has managed to close above all the major MAs supporting with other momentum indicators."

Tejas Networks share price history

Tejas Networks shares are one of the multibagger stocks in 2021. This telecom stock has been under consolidation phase for last 6 months and still it has managed to deliver 155 per cent return to its shareholders in last one year.

Vijay Kedia shareholding in Tejas Networks

According to shareholding pattern of Tejas Networks for October to December 2021, Vijay Kedia has invested in this company through his company Kedia Securities Private Limited. Kedia Securities Private Limited holds 39 lakh Tejas Networks shares, which is around 3.42 per cent of the net paid-up capital of the company.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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Asit Manohar

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