Jan 9: Bengaluru-based Tejas Networks Ltd, one of India’s leading telecom product makers, on Tuesday announced that it has successfully completed GPON equipment installations in over 40,000 gram panchayats in India as part of the BharatNet Phase-1 project.
BharatNet is a government of India project to bring high-speed broadband connectivity to 2,50,000 gram panchayats of the country.
Commenting on the development, Sanjay Nayak, CEO & MD, Tejas Networks, said, “we are honored to be a partner for BharatNet, a prestigious project of Government of India, which will serve as the high-speed backbone of Digital India. BharatNet is one of the largest Greenfield rollouts of a GPON-based broadband network in the world and we are delighted that we have supplied and successfully deployed our GPON equipment in over 40,000 locatons, spanning over 16 states spread across the country, in record time. Our GPON products have been completely designed and manufactured in India and BharatNet is a great example of a successful public-private partnership that exemplifies government of India’s ‘Digital India’ and ‘Make in India’ initiatives.”
Shares of the company surged more than 8% to touch a new 52-week high of Rs 472.20, in today morning trade on BSE, after the news came in. At 11.57 am, the Rs 10 face value shares were trading at Rs 460, up 7.99% from the previous closing of Rs 425.95.