Citi has maintained buy rating on the stock with a price target of Rs 430.
Shares of Tejas Networks rose 3 percent intraday Tuesday as brokerages maintained buy rating on the stock with a target of up to Rs 430 per share.
Nomura has maintained buy rating on Tejas Networks with a price target of Rs 410 per share.
The company upbeat on converged offerings and growth prospects in the US and expects to recoup revenue loss in the US in the previous financial year.
Management maintains revenue growth guidance to compound at 20 percent over the fiscal 2017-2020, Nomura said.
Citi has maintained buy rating on the stock with a price target of Rs 430.
The research house expect topline growth to revive in the current financial year.
The heavy investment in R&D has helped create competitive advantage and three macro trends in India would drive demand, it said.
The company closed the trading window for designated persons for the earnings release of the quarter ended June 30, 2018 in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015 on June 16, 2018 till July 25, 2018 (inclusive of both the days).
At 09:50 hrs Tejas Networks was quoting at Rs 313.80, up Rs 6.85, or 2.23 percent on the BSE.
Posted by Rakesh Patil