Tejas Networks shares jumped 12% after the company signed an agreement with NEC Corporation to manufacture and supply 5G massive MIMO radios.

Tejas Networks said in the regulatory filing that, under the agreement, it will manufacture carrier-grade 5G massive MIMO radios for NEC. 

Co-creating next-generation 5G solutions

Arnob Roy, Chief Operating Officer and Executive Director of Tejas Networks, said the partnership will speed up innovation in wireless technologies.

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“Our partnership with NEC will accelerate wireless innovation by leveraging our respective expertise in carrier-class product development for global telcos. We will continue to work closely with NEC to co-create leading-edge 5G/5G-Advanced solutions that meet the evolving needs of customers worldwide,” Roy said.

Focus on resilient supply chains

Masayuki Kayahara, Corporate Senior Vice President of Global Network Division at NEC Corporation, said the agreement marks an important step in the companies’ collaboration.

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“Today’s milestone furthers our collaboration with Tejas Networks for 5G massive MIMO radio and to achieve supply-chain diversification which helps in mitigating risks to our customers by building a resilient, flexible globalised ecosystem,” Kayahara said.

About Tejas Networks

Tejas Networks designs and manufactures high-performance wireline and wireless networking products for telecom service providers, internet companies, utilities, defence and government entities across more than 75 countries. The company is part of the Tata Group, with Panatone Finvest, a subsidiary of Tata Sons, as its majority shareholder.

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Tejas Networks offers a wide range of mobility products, including 4G and 5G radio access network (RAN) solutions. Its portfolio includes high-capacity 32TR and 64TR massive MIMO radios that comply with 3GPP and O-RAN standards.

Tejas Network share price

The share price of Tejas Network has gained 12.52% in intra-day trade. However, on year-to-date basis the stock has declined 21.08%. The stock is down 40% in the last 6 months and declined 51% in the last 1 year.