Recent Price Movement and Market Context
On 24 Nov 2025, Tejas Networks recorded an intraday low of Rs.492.5, representing a 2.05% decline during the trading session. This new low comes after the stock has experienced a consecutive five-day decline, resulting in a cumulative return of -5.04% over this period. The day’s performance also showed the stock underperforming its sector by 1.72%, highlighting relative weakness within the Telecom - Equipment & Accessories industry segment.
Despite the broader market showing resilience, with the Sensex opening 88.12 points higher and trading at 85,369.59 (up 0.16%), Tejas Networks has not mirrored this positive momentum. The Sensex is currently 0.51% below its 52-week high of 85,801.70 and has been on a three-week consecutive rise, gaining 2.59% during this timeframe. Mega-cap stocks have been leading this market strength, contrasting with the performance of smaller-cap stocks such as Tejas Networks.
Technical Indicators and Moving Averages
From a technical standpoint, Tejas Networks is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This positioning suggests a persistent bearish trend and indicates that the stock has not found short-term or long-term technical support levels. The gap between the current price and these moving averages reflects the stock’s ongoing struggle to regain upward momentum.
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Financial Performance and Profitability Metrics
Tejas Networks’ financial results have reflected considerable challenges over recent quarters. The company reported a sharp fall in net sales for the quarter ending September 2025, with net sales at Rs.261.82 crores, showing a decline of 90.69% compared to previous periods. This steep reduction in revenue has contributed to negative results for two consecutive quarters.
Operating profit to interest ratio for the quarter was recorded at -3.48 times, indicating that operating earnings are insufficient to cover interest expenses. The company’s debt-equity ratio at the half-year mark stood at 11.34 times, signalling a high level of leverage relative to equity. This elevated debt burden poses challenges for financial stability and servicing obligations.
Return on equity (ROE), averaged over recent periods, was 2.99%, reflecting limited profitability generated from shareholders’ funds. These financial indicators collectively point to subdued earnings capacity and heightened financial risk.
Long-Term and Short-Term Stock Performance
Over the past year, Tejas Networks has recorded a total return of -61.26%, a stark contrast to the Sensex’s 7.90% gain during the same period. The stock’s 52-week high was Rs.1,403.15, underscoring the extent of the decline to the current low of Rs.492.5. This performance places the stock well below its historical valuation levels and highlights the challenges faced in both near-term and long-term horizons.
Additionally, the stock has underperformed the BSE500 index over the last three years, one year, and three months, indicating persistent relative weakness compared to a broad market benchmark.
Shareholding and Industry Position
The majority shareholding in Tejas Networks remains with promoters, maintaining a concentrated ownership structure. The company operates within the Telecom - Equipment & Accessories sector, which has seen mixed performance across its constituents. While the sector overall has experienced some positive momentum, Tejas Networks’ stock has not aligned with this trend.
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Risk Factors and Valuation Considerations
Tejas Networks is currently trading at valuations that suggest elevated risk relative to its historical averages. The company’s operating profits have been negative, and the stock’s returns over the past year have been substantially below zero, with profits falling by 189.6%. The high debt to EBITDA ratio of 12.63 times further emphasises the financial strain faced by the company.
These factors contribute to a cautious market assessment of the stock’s current standing, with the price reflecting these underlying financial and operational conditions.
Summary of Market and Stock Dynamics
While the broader market, led by mega-cap stocks, has shown resilience and modest gains, Tejas Networks has experienced a marked decline culminating in a fresh 52-week low. The stock’s performance has been influenced by significant reductions in sales, negative profitability metrics, and elevated leverage ratios. Technical indicators confirm the stock’s position below key moving averages, reinforcing the prevailing downward trend.
Investors and market participants will note the divergence between the company’s stock trajectory and the overall market’s upward movement, highlighting sector-specific and company-specific challenges.
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