Tejas Networks shares in focus after strategic tie-up with Rakuten Symphony
Live Events
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Shares of Tejas Networks are likely to remain in focus on Wednesday, June 26, following the announcement of a strategic partnership with Japan-based Rakuten Symphony 'Rakuten Symphony and Tejas Networks, a Tata Group company, today announced a multi-faceted strategic partnership to develop integrated Open RAN solutions and engage in joint go-to-market efforts, both in India and internationally,' the company said in an exchange filing.As per a joint statement released on Wednesday, the collaboration aims to develop integrated Open RAN (Radio Access Network) solutions and jointly pursue go-to-market efforts in India and globally.The partnership will see the two companies integrate Rakuten Symphony's CU and DU software, OSS, and cloud portfolio with Tejas's proven 4G/5G radio offerings. By leveraging commercial and technical synergies and collaborative engagement strategies, the collaboration seeks to drive the deployment and expansion of next-generation 4G and 5G networks, including in India.'Through this partnership with Rakuten Symphony, we intend to combine our field-proven RAN infrastructure solutions with Rakuten's resilient cloud-native RAN software stack and orchestration solution to provide a compelling solution to the global market,' said Kumar N. Sivarajan, CTO and Co-founder of Tejas Networks.Rakuten Symphony, through its association with Rakuten Mobile and supported by key R&D projects funded by Japan's NEDO (New Energy and Industrial Technology Development Organization), reaffirmed its commitment to advancing Open RAN innovation.The company also focuses on building automated network quality assurance systems and edge cloud capabilities to support future communication infrastructure. Tejas Networks shares closed 0.8% lower at Rs 697.20 on the BSE on Wednesday.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
27 minutes ago
- Hindustan Times
Prestige Group inks JV with Arihant Group for ₹1,600 crore residential project in Chennai
Bengaluru-based real estate developer Prestige Group and Chennai-based Arihant Group have announced a strategic partnership to jointly acquire a prime 3.48-acre land parcel in Velachery, Chennai from Rane Madras Limited, the company said in a regulatory filing. Bengaluru-based real estate developer Prestige Group and Chennai-based Arihant Group have announced a strategic partnership to jointly acquire a prime 3.48-acre land parcel in Velachery, Chennai. (Representational photo)(Pexels) The acquisition, routed through their joint venture entity Canopy Living LLP, will offer around 7.5 lakh sq ft of residential space, with an estimated Gross Development Value (GDV) of over ₹ 1,600 crore, marking an expansion to Chennai's real estate market. Velachery, a residential and commercial hub in South Chennai, offers connectivity to IT corridors like OMR and GST Road. The area's rapid infrastructure growth and proximity to employment hubs make it one of the sought-after places for buyers. Irfan Razack, Chairman and Managing Director of Prestige Group, said the Velachery acquisition marks a significant milestone in the company's continued expansion into Chennai, a key market in its national growth strategy. 'Our collaboration with Arihant Group reflects a common goal—to build well-designed, high-quality residential communities that align with the changing aspirations of urban homebuyers." Also Read: Bengaluru-based Prestige Group to launch ₹ 50,000 crore worth of homes in FY26 'Velachery's vibrant ecosystem and future growth potential make it a prime destination for luxury housing. Our collaboration with Prestige Group reflects a shared vision of building thoughtfully designed, high-quality developments. We're confident this project will set new standards for residential living in Chennai," Kamal Lunawath, Managing Director of Arihant Group, said. Prestige Group has completed 302 developments covering a total of 193 million square feet and currently has 130 ongoing and upcoming projects, accounting for an additional 203 million square feet in its pipeline. Chennai-based Arihant Foundations and Housing Ltd brings over 40 years of industry experience, with a portfolio that includes the successful delivery of more than 25 million square feet of built-up space.
Mint
an hour ago
- Mint
Salomon and Arc'teryx Help Amer Sports Defy Downturn With Athleisure Bet
(Bloomberg) -- In 2020, Carlo Aragon started the 'Salomonology' Instagram page as a fashion moodboard to help him decide whether to invest $150 in a pair of Salomon XT-6s. He bought it, liking how the shoes looked 'unorthodox.' Others did too — the account now has almost 150,000 followers, intrigued by how trail shoes can pair with streetwear. Aragon's Instagram fame mirrors the ascent of Amer Sports Inc., the company behind Salomon. Since its New York Stock Exchange debut in February 2024, the Helsinki-based group, which also owns outerwear brand Arc'teryx and sports equipment maker Wilson, has nearly tripled its market value to $21 billion. It has outpaced peers like On Holding AG, Hoka parent company Deckers Outdoor Corp. and Anta Sports Products Ltd., the Chinese sporting goods giant that owns a 42% stake in Amer Sports. Amer Sports' growth has beaten the consumer downturn by riding the outdoor activity wave. It's among the mid-tier luxury brands offering shoppers high-quality goods that don't break the bank. The bulk of this rally occurred recently, following first-quarter results that defied a rocky global economy. Sales topped expectations, and the company raised its outlook while others cut theirs. Growth of its Technical Apparel and Outdoor Performance divisions — which respectively house Arc'teryx and Salomon — boosted results, Chief Executive Officer James Zheng said in the most recent earnings call, highlighting the brands' potential. While Salomon sneakers surpassed $1 billion in sales in 2024, it's a fraction of the $180 billion global sneaker market, and Arc'teryx is 'very under-penetrated globally,' he said in the call. Amer Sports declined a request for an interview with an executive. Amer Sports wasn't always this successful. Shares remained subdued after the IPO due to high debt, low trading volume, and significant exposure to a lagging Chinese economy, said Laurent Vasilescu, an analyst at BNP Paribas Exane, who rates the stock outperform. Then in December, Amer Sports issued shares to pay down most of its debt. This move reduced leverage and boosted trading volume, alleviating two of the three primary investor concerns, Vasilescu said in an interview. China, which accounts for about 30% of the company's revenue, remains a concern, though sales in the market have bested expectations every quarter since the IPO. Premium sportswear and outdoor market gear is one of the fastest-growing consumer segments in China, attracting younger and female consumers, as well as luxury shoppers, Chief Financial Officer Andrew Page said on the earnings call. Glamping — short for glamorous camping — and gorpcore – wearing outdoor clothes as everyday wear – are currently trending in China, Vasilescu said. Amer Sports is also attracting middle- and upper-income customers who like the 'quiet luxury' aesthetic and the upscale in-store shopping experience of its brands, he added. That's happening in the US too, where celebrities like Timothée Chalamet and Bella Hadid have been spotted wearing Salomon shoes. Sales in its Americas division have grown every year since 2020 – the earliest publicly available results – though at a slower pace than Greater China's, which is estimated to overtake Europe, the Middle East and Africa as Amer Sports' second-largest market by revenue this year. One fan is Gabriella Gonzalez, a 29-year-old stylist who popped by a Salomon store in New York City's SoHo shopping district on a Friday afternoon. She praised the breathability, waterproofing and style of her pink-and-black XT-6 shoes. 'They make my outfits pop,' she said. About half a mile away is Arc'teryx's largest US store. Customer Chris Rojes said he doesn't mind paying more for Arc'teryx's gear over other brands. 'You feel more special in them.' Arc'teryx distinguishes itself from other outdoor apparel brands like Patagonia Inc. and VF Corp's The North Face through a 'much higher level of premiumization,' said TD Cowen analyst John Kernan, who has a buy rating on Amer Sports. Despite higher prices, consumers are willing to pay for Arc'teryx's 'leading innovation.' Declining consumer brand loyalty and a growing desire for variety also creates an opportunity for Salomon and Arc'teryx to gain market share from industry leaders like Nike Inc. and Adidas AG, Vasilescu said. To keep flying high, Amer Sports needs to go global, analysts said, warning that it's an uphill battle. 'We believe that the global brand rollout will not be easy' due to Arc'teryx's high price points and intense competition in Western outerwear markets, said HSBC analyst Akshay Gupta, who has a hold rating on the company. Morningstar analyst Ivan Su, who has a sell rating, believes Amer Sports' would need a compound annual growth rate of 20% over the next five years to support its currently high valuation, which would require 'near flawless execution' globally. More stories like this are available on
Hans India
an hour ago
- Hans India
Court orders restoration of assets worth Rs 952 crore in IL&FS case
Mumbai: In a major development in the IL&FS money laundering case, the Special Court under the Prevention of Money Laundering Act (PMLA) in Mumbai has ordered the restoration of immovable assets worth Rs 952 crore to Nuvoco Vistas Corporation Ltd. The order, dated June 25, follows a no-objection submission by the Enforcement Directorate (ED), allowing the company to proceed with the implementation of its resolution plan for Vadraj Cement Ltd, the ED said in a statement on Saturday. The ED had earlier attached Vadraj Cement's Surat-based plant in January 2020, after investigations revealed that the company, formerly ABG Cement Ltd, had fraudulently obtained loans worth Rs 952 crore from IL&FS Financial Services Ltd. These loans were later classified as non-performing assets. The attachment was confirmed by the Adjudicating Authority in August 2021, and a prosecution complaint was filed seeking confiscation. Nuvoco Vistas, a subsidiary of the Nirma Group, had emerged as the successful resolution applicant under the Insolvency and Bankruptcy Code. Its resolution plan, approved by the National Company Law Tribunal (NCLT) on April 1, 2025, involves a payment of Rs 1,706 crore to financial creditors in exchange for acquiring Vadraj Cement. The company subsequently filed an application before the Special Court seeking restoration of the attached property to facilitate the resolution plan's execution. Taking into account the objective of the PMLA to restore proceeds of crime to legitimate claimants, the ED submitted that it had no objection to the release of the attached assets, it said. The court, satisfied with the submission, directed the restoration of the property under Sections 8(7) and 8(8) of the PMLA, read with Rule 3A of the PML (Restoration of Property) Rules, 2016. The court also instructed Nuvoco Vistas to provide an undertaking to return or restore the property or its value if required in the future. The ED has been asked to prepare a detailed inventory before handing over possession, the statement said. This decision is seen as a significant step in enabling financial institutions to recover dues and in ensuring that productive assets are returned to legitimate stakeholders through lawful means.
