Tejas Networks Join hands with Telecom Egypt for Forging connectivity

About the Partnership:

Tejas Networks Limited, a global R&D-driven telecom equipment company, announced today that it has signed a Memorandum of Understanding (MoU) with Telecom Egypt (TE), ITIDA (Information Technology Industry Development Agency), and NTI (National Telecom Institute) to replicate its successful experience in implementing Bharatnet (Rural Broadband Project) and NKN (National Knowledge Network) projects in Egypt.

The partnership aims to facilitate various areas of cooperation, including capacity building for Egyptian engineers and technicians in state-of-the-art telecom and networking technologies. Additionally, the collaboration will involve establishing local manufacturing and R&D facilities for Fiber-to-the-Home (FTTH) products and setting up technical support services in Egypt, catering to customers within the country as well as the broader Africa and Middle East region.

Stock Performance:

In the last trading session, the stock of Tejas Network closed at Rs 687.35. Opening at Rs 690.25 today, the stock is currently trading at Rs 687.40, up by 0.01%. Tejas Networks 52-week high stands at Rs 939.90, while its 52-week low stands at Rs 562.10. With a market capitalization of approximately Rs 11,700 crore, Tejas Networks has delivered a return of 18.99% over the past year, while BSE Telecommunication has seen changes of 62.42% in the same period.

About Tejas Networks Limited:

Tejas Networks Limited designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defense, and government entities across over 75 countries. As part of the Tata Group, Tejas Networks is backed by Panatone Finvest Limited, a subsidiary of Tata Sons Pvt. Ltd., which is the majority shareholder.

About Telecom Egypt (WE):

Telecom Egypt is Egypt’s premier total telecom operator, offering a comprehensive range of telecom services to its customers, including fixed and mobile voice and data services. With a history spanning over 160 years, Telecom Egypt maintains a leadership position in the Egyptian telecom market by providing advanced technology, reliable infrastructure solutions, and the widest network of submarine cables. The company also holds a 45% stake in Vodafone Egypt.

Disclaimer: This blog is intended solely for educational purposes. The securities mentioned are for illustrative purposes only and not recommendations. The content is sourced from various secondary sources on the internet and is subject to change. Please consult with a financial expert before making any related decisions.