Tata Group Stock Reaches 13-Week High Following 58% Surge in Three Sessions Amid Market Turmoil

Financial Report: Tejas Networks Share Price Surges 15.4%

Market Overview On March 2, Tejas Networks shares jumped 15.4% in Monday's trading session, reaching a 13-week high of ₹502.95 apiece. Despite the Indian stock market facing deep losses due to ongoing tensions in the Middle East, Tejas Networks maintained its momentum, marking a third consecutive day of gains and resulting in a cumulative gain of 58.25%.

Company Performance The upward run in Tejas Networks share price began after the company signed an agreement with NEC Corporation on February 26 to manufacture and supply 5G massive MIMO radios. Tejas Networks is a leading manufacturer and supplier of a versatile mobility product suite, including high-capacity 32TR and 64TR massive MIMO radios that comply with both 3GPP and O-RAN standards.

Partnership and Future Outlook The partnership with NEC Corporation is expected to accelerate wireless innovation by leveraging their respective expertise in carrier-class product development for global telcos. Tejas Networks plans to continue working closely with NEC to co-create leading-edge 5G/5G-Advanced solutions that meet the evolving needs of customers worldwide.

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Technical Analysis According to Anshul Jain, Head of Research at Lakshmishree, Tejas Networks share price has undergone a steep 67% correction over 40 weeks, but has staged a sharp rebound over the past six weeks, signaling mean reversion rather than fresh weakness. The price is now heading toward the 50% retracement of the entire decline, placed near ₹516, which will become the next major technical test.

Key Figures

• Tejas Networks share price: ₹502.95
• Cumulative gain: 58.25%
• 50% retracement level: ₹516
• Partnership agreement signed on: February 26