TCS gained 1.25% in today's trade; did you know why?

Shares of TCS gained 1.25 per cent intraday to hit a high of Rs 3,227.20 apiece on the BSE on April 28, 2023. The stock surged on the news that the TCS-Tejas Networks and BSNL deal may soon get approval from the Group of Ministers (GoM). A mega order worth Rs 25,000 crore is expected to be placed within two months, according to a report by Zee Business' Executive Editor Swati Khandelwal.

Tejas Networks, which is also owned by Tata Group, and TCS will get a mega order for equipment manufacturing of 4G. BSNL has already deployed tech on this and it plans to set up 4G networks at one lakh sites in the first phase of the project, the report further adds. In sum, BSNL needs to roll out 4G and it is outsourcing the work to TCS and Tejas Networks.

Anil Singhvi, the managing editor of Zee Business says the BSNL deal is positive for both TCS and Tejas Networks. It must be noted that Tata Sons subsidiary Panatone Finvest Limited in the year 2021 signed a definitive agreement to pick a 43.3 per cent stake in Tejas Networks for about Rs 1,850 crore. Tejas Networks designs, develops and sells networking products to telecommunications service providers, internet service providers, utilities, defence and government entities. 

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सूत्रों के हवाले से TCS और Tejas Networks के लिए बड़ी खबर

small_orange_diamond:TCS - तेजस नेटवर्क्स, #BSNL डील को जल्द GoM से मंजूरी संभव

small_orange_diamond:2 महीने में ₹25,000 करोड़ का मेगा ऑर्डर जारी होने की उम्मीद

जानिए पूरी खबर स्वाति खंडेलवाल से @SwatiKJain @TCS @TejasN_Official pic.twitter.com/hknpZQgxMS

— Zee Business (@ZeeBusiness) April 28, 2023

Singhvi notes, that it is a mega offer for Tejas Networks which has been on the radar ever since Tata Group acquired it.

At the time of writing this news, TCS traded 1 per cent higher at Rs 3,218.50 on the BSE while Tejas Networks was trading over 5 per cent higher at Rs 664.30.