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Tejas Networks shares gain 5% on partnering with Rakuten Symphony
Shares of Tejas Networks rose nearly 5 per cent on Thursday after it announced a strategic partnership with Rakuten Symphony to develop integrated Open RAN solutions and engage in joint go-to-market efforts, both in India and internationally.
The telecom equipment and accessories maker's stock rose as much as 4.94 per cent during the day to ₹731.9 per share, the biggest intraday gain since May 21 this year. The stock pared gains to trade 3.2 per cent higher at ₹719.7 apiece, compared to a 0.50 per cent advance in Nifty 50 as of 10:40 AM.
Shares of the company have remained range-bound since May. The counter has fallen 40 per cent this year, compared to a 7 per cent advance in the benchmark Nifty 50. Tejas Networks has a total market capitalisation of ₹12,689.29 crore.
Tejas Network Rakuten Symphony Partnership
Rakuten Symphony and Tejas Networks announced a strategic partnership to jointly develop integrated Open RAN solutions and pursue joint go-to-market initiatives in India and globally, according to an exhange filing on Thursday.
The collaboration will combine Rakuten Symphony's CU/DU software, OSS, and cloud portfolio with Tejas's 4G/5G radio portfolio, the companies said in a joint statement. "The two companies aim to explore opportunities for deploying and expanding 4G and 5G networks worldwide by leveraging their technical and commercial synergies."
The partnership would deliver a compelling solution by integrating Tejas's RAN infrastructure with Rakuten's cloud-native RAN software stack, according to Kumar N. Sivarajan, co-founder of Tejas Networks, said.
Earlier this month, Tejas Networks received ₹122.96 crore from the Ministry of Communications, Department of Telecommunications, under the PLI scheme for telecom and networking products. In May, they received an add-on Advance Purchase Order worth about ₹1,526 crore from BSNL for the supply, deployment and maintenance of 4G mobile network at 18,685 sites.
About Tejas Networks
Tejas Networks is among the leading global providers of telecom equipment and solutions, specialising in the design, manufacturing, and sales of advanced networking products. With a strong focus on research and development, the company delivers cutting-edge technology for building end-to-end communication networks.
The company's offerings span a broad spectrum, including wireless (4G/5G), optical transmission (DWDM, OTN), and packet switching (Ethernet, IP/MPLS), enabling robust infrastructure for various sectors.
Catering to a diverse global customer base, Tejas Networks serves telecom service providers, utility companies, and government and defence organisations across more than 75 countries.
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