Trending stocks: Tejas Networks shares climb nearly 5%

NEW DELHI: Shares of Tejas Networks Ltd. traded 4.96 per cent up in Thursday's trade at 11:51AM (IST). Around 222,168 shares changed hands on the counter.

The counter opened at Rs 51.8 and touched an intraday high and low of Rs 51.8 and Rs 51.0, respectively, in the session so far. Shares of the company of Tejas Networks Ltd. quoted a 52-week high of Rs 144.35 and a 52-week low of Rs 28.5.

Total market cap of the Tejas Networks Ltd. stood at Rs 477.65 crore at the time of writing this report.

Kedia Securities bought 7,53,925 shares of Tejas Networks at Rs 49.13 per share.

Key Financials
The company reported consolidated sales of Rs 54.57 crore for the quarter ended 31-Mar-2020, down 37.03 per cent from previous quarter's Rs 86.66 crore and down 80.02 per cent from the year-ago quarter's Rs 273.13 crore.

Shareholding pattern
As of 31-Mar-2020, DIIs held 18.3 per cent stake in the company, while foreign institutional investors held 22.52 per cent and the promoters 0.0 per cent.


Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of -2.01 and a price-to-book ratio of 0.46. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Tejas Networks Ltd. belongs to the Telecommunications - Allied Services industry.