Tejas Networks shares rise 12% as firm announces deal to supply 5G radio

Tejas Networks shares rise 12% as firm announces deal to supply 5G radio

• Tejas Networks shares rise 10% after NEC 5G deal news
• Tejas and NEC to jointly develop 5G MIMO radios for global markets
• Partnership to enhance wireless innovation and supply resilience

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Tejas Networks shares rose over 10% on February 26 as the firm announced that it has signed an agreement with NEC Corporation to manufacture and supply 5G massive multiple-input multiple-output radios.

This partnership will accelerate wireless innovation by using Tejas Networks' expertise in carrier-class product development for global telecommunication companies, the firm said.

Masayuki Kayahara, Corporate Senior Vice President of Global Network Division at NEC Corporation said, “Today’s milestone furthers our collaboration with Tejas Networks for 5G massive MIMO radio and to achieve supply-chain diversification which helps in mitigating risks to our customers by building a resilient, flexible globalized ecosystem.”

At 11:30 am on February 26, Tejas Networks shares were trading 12% higher at Rs 355.55 apiece.

Arnob Roy, Chief Operating Officer and Executive Director of Tejas Networks said, “Our partnership with NEC will accelerate wireless innovation by leveraging our respective expertise in carrier-class product development for global telcos. We will continue to work closely with NEC to co-create leading-edge 5G/5G-Advanced solutions that meet the evolving needs of customers worldwide.”

Sanjay Malik, Chief Strategy and Business Officer of Tejas Networks said, “We are delighted to win this deal in partnership with NEC as we expand our business internationally. We are looking forward to building on this momentum and replicate this success in other 4G/5G mobile networks across emerging and established markets.”

Tejas Networks is a manufacturer and supplier of a versatile mobility product suite comprising 4G and 5G radio access network (RAN) offerings, including high-capacity 32TR and 64TR massive MIMO radios that comply to both 3GPP and O-RAN standards.

Shares of the company have shed almost 41% in the last six months.