Tejas Networks shares jumped 9.17% to ₹619.80 on Friday, extending their rally for the fourth consecutive session amid strong buying momentum. According to reports from Essential Business Intelligence, the stock demonstrated exceptional trading activity with around 2 crore equity shares changing hands across stock exchanges, significantly higher than the one-week average volume of around 1 crore shares and the one-month average of approximately 39 lakh shares. The stock has gained in seven of the past eight trading sessions, rising nearly 23% during the period. As per Axis Direct, the stock has gained 9% in the past week, 15% over the last month, and 27% in the past six months, though it remains 8% below its 52-week high of ₹644.75 recorded in June 2026.
The recent upward momentum in Tejas Networks shares came after the company announced receiving a Letter of Intent (LOI) from Tata Consultancy Services (TCS). As reported by Essential Business Intelligence, on August 27, Tejas Networks informed that the LOI was for the supply of RAN equipment, accessories & installation materials for BSNL 4G mobile network for 18,685 sites, valued at ₹1,537 crore. TCS is expected to issue a formal, detailed Purchase Order (PO) in due course to formalise execution, with the company actively awaiting an additional expansion order for 26,000 more 4G sites using its RAN systems under a parallel BSNL rollout plan. The order relates to the supply of RAN equipment and associated materials for the sites under an add-on purchase order that TCS had secured from BSNL.
Following Friday's gains, Tejas Networks shares are now just 3.8% below their 52-week high of ₹644.75 apiece, recorded on June 19, 2026. According to the company's investor presentations, at the close of Q1FY27, the total order book of Tejas Networks was ₹1,529 crore. This single LOI worth ₹1,537 crore effectively doubles the company's order backlog, providing strong revenue visibility for future quarters. The stock's 52-week low stands at ₹294.10, which was touched in January 2026, indicating significant recovery from recent lows.
Tejas Networks share price has risen 15% in one month and gained 23% in six months, with the Tata Group stock rallying 36% on a year-to-date basis. As reported by Axis Direct, the stock has formed strong bullish candles over the past two weeks on the weekly chart after bouncing from the 61.8% Fibonacci retracement level of its previous upmove from ₹382 to ₹644. The stock is trading firmly above its 20-day, 50-day, 100-day and 200-day simple moving averages, with all these moving averages trending higher in line with the price action. The daily and weekly Relative Strength Index (RSI) readings are holding above their respective reference lines, pointing to a positive bias. Axis Direct has identified the ₹680-695 zone as the potential upside target and assigned a holding period of 3-4 weeks for the technical setup.
