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Vijay Kedia portfolio: Tejas Networks hits upper circuit. Experts see more gain

Vijay Kedia portfolio: This sharp rise in the Vijay Kedia stock is due to the Bharti Airtel's order to Tejas Networks for optical network expansion in key metropolitan markets (Mint)Premium
Vijay Kedia portfolio: This sharp rise in the Vijay Kedia stock is due to the Bharti Airtel's order to Tejas Networks for optical network expansion in key metropolitan markets (Mint)

  • Vijay Kedia portfolio: Tejas Networks share may continue to scale northward in long-term as flow of such orders are expected to continue in the wake of Made in India 5G roll out, experts believe

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Vijay Kedia portfolio stock: Tejas Networks share price hit 5 per cent upper circuit in Thursday's early trade after receiving order from Bharti Airtel for optical network expansion in key metropolitan markets. Experts believe that Tejas Networks share may continue to scale northward in long-term as flow of such orders are expected to continue in the wake of Made in India 5G launch. They advised investors that any dip in the counter should be seen as an opportunity to buy.

Speaking on the reason for such a sharp rise in this Vijay Kedia portfolio stock; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "This sharp rise in Tejas Networks share price is due to the Bharti Airtel order for enhancing Airtel’s optical network capacity. Such order flow is expected to continue as Tejas Networks is a telecom hardware manufacturer company and after the Government of India's (GoI's) announcement to make 5G roll out a completely made in India, Tejas Networks is expected to emerge major beneficiary of this GoI's move."

Avinash Gorakshkar said that Tejas Networks share price is expected to continue giving sharp upside moves as there can be more order coming in ahead of the 5G roll out. He advised investors to maintain 'buy on dips' strategy in this Vijay Kedia counter and hold for long-term.

Unveiling levels in regard to Tejas Networks shares; Mudit Goel, Senior Research Analyst at SMC Global Securities said, "Tejas Networks has been rising for last few trade sessions and hence profit-booking is strong awaited in this Vijay Kedia counter. One should wait for the profit-booking as it may go down to 360 per share levels."

Tejas Networks today announced that it has been selected by Bharti Airtel to enhance Airtel’s optical network capacity in key metropolitan markets. Tejas will supply, install and support its state-of-the-art products for extending Airtel’s optical networks towards the edge, supporting 5G backhaul, B2B services and broadband applications. 

Speaking on the development; Randeep Sekhon, Chief Technology Officer of Bharti Airtel said, “Airtel has been making significant investments in expanding its metro network capacity as part of its 5G readiness and for catering to increased bandwidth consumption by fixed-line and enterprise customers. We are delighted to partner with Tejas in this key network intervention that will enable us to deliver world-class experience to our customers."

Commenting on Bharti Airtel order; Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “Under this new contract, we will provide our multi-terabit products to augment Airtel’s metro network capacity right up the network edge. We are happy to see that our platform, with its “pay-as-you-grow" modular design supporting 100Gbps to 600Gbps wavelengths and a universal OTN/DWDM architecture offering advanced bandwidth expansion and optimization, is gaining significant traction among leading telecom service providers around the globe."

As per the shareholding pattern for April to June 2021 quarter, Vijay Kishanlal Kedia holds 1100000 shares or 1.18 per cent stake in Tejas Networks, while his firm Kedia Securities holds 4.17% stake.

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

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