Tejas Networks, a Tata Group subsidiary, achieved new lifetime high in trading session, surging 6% to ₹1,183.35 apiece. Strong rally in April reverses previous negative returns, marking largest monthly gain since listing in 2017.
The company achieved profitability in Q4FY24, marking a significant turnaround after nine consecutive quarters of net losses. Revenue from operations during this period came in at ₹1,171 crore, representing a remarkable 343% year-on-year increase.
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As the final market day of FY23-24 concluded, Indian markets experienced one of their best years, with the Nifty ranking among the top-performing markets in Asia, yielding nearly 29% USD return (second only to Japan). Conversely, China and Hong Kong faced significant underperformance.