Tejas Networks stock rises 4.5% after funding announcement

Tejas Networks shares rose 4.5% to ₹689, ending a four-day decline. This increase follows the company receiving ₹123.45 crore from the Ministry of Communications under the Production Linked Incentive Scheme for the 2023-24 financial year. Despite a 54% drop from its peak, the stock has gained 1,514% over the past five years. Recent contracts with Vodafone Idea and projects in the U.S. and Asia highlight the company's ongoing business activities. Tejas Networks is focusing on opportunities in both wireless and wireline segments, including BSNL's 4G expansion and Bharatnet initiatives. The company aims to enhance its market position through various projects in India and abroad.