This Tata Company Share Skyrockets After Strong Q4 Results
By Yatish S.
Tejas Networks, a Tata Group company, saw a major surge in stock price, hitting an upper circuit of 20% on BSE. The stock reached a new all-time high of Rs. 1086.90.
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For Q4 FY24, Tejas Networks also reported a net profit of Rs. 147 crore, and that too from a net loss of Rs. 11.5 crore in the same quarter previous year.
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Plus, the company's net revenue increased by 343%, reaching Rs. 1,327 crore, up from Rs. 299.30 crore in the corresponding quarter of the previous year.
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Here's how Tejas Networks' shares grew over different periods.
1 Week : 37% increase
1 Month : 58% increase
3 Months : 46% increase
6 Months : 31% increase
1 Year : 71% increase
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Overall, the stock has given a 490% return in 2 years.
Also, Tejas Networks' order book stood at Rs. 8,221 crore, which indicates strong revenue potential in the future.