designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utility companies, defence companies and government entities in over 70 countries.
The stock was trading at the lowest level since its listing on June 27, 2017. Thus far in the calendar year 2019, it tanked 46 per cent from the level of Rs 207, as compared to a 5 per cent rise in the S&P BSE Sensex. It hit an all-time high of Rs 472 on January 9, 2018.
The company had raised nearly Rs 777 crore through the initial public offer (IPO) by issuing shares at Rs 257 apiece.
At 09:51 am, Tejas Networks
was quoting 13 per cent lower at Rs 112, against a 0.74 per cent rise in the benchmark index. A combined 169,388 shares changed hands on the counter on the BSE and NSE so far.