"Tejas Networks (Tejas), Indias largest R&D-driven telecom equipment company, designs and manufactures wireline/wireless networking products. We expect Tejas to execute orders worth at least Rs292bn over FY24-28E, and generate revenue/EBITDA above Rs300bn/Rs60bn, respectively, led by the BSNL and BharatNet projects."
"Tejas Networks (Tejas), India’s largest R&D-driven telecom equipment company, designs and manufactures wireline/wireless networking products. We expect Tejas to execute orders worth at least Rs292bn over FY24-28E, and generate revenue/EBITDA above Rs300bn/Rs60bn, respectively, led by the BSNL and BharatNet projects."
We remain positive on SIEM from a long-term perspective given 1) its strong and diversified presence across industries through focus on electrification, digitalization & automation, 2) product localization, 3) strong balance sheet, 4) healthy public & private capex and 5) focus on cost efficiencies. The stock is currently trading at a PE of 63.0x/54.5x SY24/25E valuing it at PE of 60x SY25E (same as earlier).
Explore Now
Nomura, India has buy call on Indian Oil Corporation (IOC) with a target price of Rs 130. The current market price of Indian Oil Corporation is Rs 100.6.
Indian Oil Corporation, incorporated in the year 1959, is a large cap company with a market cap of Rs 94,659.37 Crore, operating in gas & petroleum sector.
Indian Oil Corporation s key products/revenue segments include petroleum refinery products, other operating revenue, grants, scrap, subsidy, sale of services and income from sale Of share & securities for the year ending 31-Mar-2020.
Investment rationale
The brokerage raised the target price though the company s refining remains weak, as retail price hikes make marketing outlook better.