Tejas Networks shares zoom 13% after TCS’s Rs 1,537-crore LOI for BSNL 4G rollout

Synopsis

Tejas Networks shares rose sharply on Friday after the company received a Rs 1,537-crore Letter of Intent from TCS to supply RAN equipment for BSNL’s indigenous 4G rollout. The proposed project covers 18,685 sites, adding to Tejas Networks’ role in the telecom operator’s nationwide 4G network deployment.

Tejas Networks shares rallied nearly 13% on Friday after the company announced a potential Rs 1,537-crore opportunity from Tata Consultancy Services (TCS).

The stock hit an intraday high of Rs 576.85 on the NSE, up Rs 65.7, or 12.8%, from its previous close of Rs 511.15.

In an exchange filing dated August 27, Tejas Networks said it had received a “Letter of Intent” from TCS to supply RAN equipment, accessories and installation materials for BSNL’s 4G network.

The proposed project covers 18,685 sites and is valued at Rs 1,537 crore. A detailed purchase order for the contract would be issued by TCS to the company in due course, Tejas Networks added in the filing.

In May 2025, TCS had secured an add-on purchase order worth Rs 2,903.22 crore from BSNL for deploying 18,685 4G network sites. Under the order, TCS was tasked with planning, engineering, supply, installation, testing, commissioning and annual maintenance of the sites.

The latest order is part of TCS's broader role in BSNL’s indigenous 4G rollout. In May 2023, TCS, in partnership with the government’s Centre for Development of Telematics (C-DOT), secured a Rs 15,000-crore contract from BSNL to deploy an end-to-end indigenous 4G network.

Tejas Networks share price

Over the past month, the stock climbed 12.75%, comfortably outpacing its benchmark's 1.68% gain. Tejas Networks’ free-float market capitalisation stood at Rs 4,641.57 crore, while its face value was Rs 10.

Tejas Networks Q1 results

Tejas Networks’ Q1 FY27 performance showed strong revenue growth but continued pressure on profitability. Revenue rose 99.1% year-on-year to Rs 402.16 crore from Rs 201.98 crore a year earlier. However, the company reported a net loss of Rs 202.24 crore, compared with a loss of Rs 193.87 crore in the year-ago quarter. Its operating EBITDA loss stood at Rs 91.39 crore.

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