Tejas Networks share price gains over 2% on signing multi-year contract with ACG

Tejas Networks share price gained more than 2 percent in early trade after the company signed a multi-year contract with Asia Consultancy Group.

The company has signed a multi-year contract with Asia Consultancy Group (ACG), a leading independent private company providing Telecommunications infrastructure, managed & engineering services across Afghanistan, as per company release.

ACG, headquartered in the US, is a full life-cycle managed network service provider in Afghanistan for many years.

As part of this contract, Tejas will supply its state of the art 100G-600G capable DWDM/OTN and PTN products to establish a high-capacity national backbone and packet access network in Afghanistan.

“We are delighted that ACG has chosen Tejas as their core technology partner to implement a state-of-the-art Carrier of-Carrier network for telcos, businesses and government institutions in Afghanistan," said Sanjay Nayak, Managing Director and CEO of Tejas Networks

"Our TJ1600 DWDM/OTN products have an innovative software-defined hardware architecture that enables next-generation wholesale telecom carriers like ACG to scale-up their network capacity in cost-effective increments and align their capex investments in line with their services and revenue growth," he added.

At 09:28 hrs, Tejas Networks was quoting at Rs 138.25, up Rs 1.60, or 1.17 percent on the BSE.

The share touched its 52-week high Rs 155.85 and 52-week low Rs 28.50 on 11 December, 2020 and 21 May, 2020, respectively.

Currently, it is trading 11.29 percent below its 52-week high and 385.09 percent above its 52-week low.