Tejas Networks Faces Increased Trading Activity Amid Challenging Market Conditions

Tejas Networks Ltd, a mid-cap player in the Telecom Equipment & Accessories industry, has emerged as one of the most active equities today, with a total traded volume of 2,974,965 shares and a total traded value of approximately Rs 195.22 crores. The stock opened at Rs 645.00, reflecting a significant gap down of 7.65% from the previous close of Rs 698.40. Throughout the day, Tejas Networks reached a low of Rs 627.45, marking a new 52-week low, before settling at a last traded price of Rs 663.35.
Despite the notable trading activity, Tejas Networks underperformed its sector, recording a 1D return of -4.97%, compared to the sector's -2.31% and the Sensex's slight gain of 0.12%. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. However, there has been a rise in investor participation, with a delivery volume of 236,000 shares on July 14, up 27.37% from the 5-day average. The liquidity remains adequate for trades sized at Rs 0.72 crores, based on 2% of the 5-day average traded value. Overall, Tejas Networks is navigating a challenging trading environment, reflecting broader market dynamics.