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IT stock hits 5% upper circuit after its JV receives an order worth ₹5,049 Cr from Bharatnet Project

IT services firm has received a ₹5,049 crore order for BharatNet Phase-3, focused on the Middle Mile Network in Himachal Pradesh, West Bengal, and Andaman & Nicobar, enhancing rural connectivity.
IT stock hits 5% upper circuit after JV secures ₹5,049 Cr order from Bharatnet Project.
IT stock hits 5% upper circuit after JV secures ₹5,049 Cr order from Bharatnet Project.

Introduction:

Leading IT services firm has secured an Advance Work Order worth ₹5,049 crore for the BharatNet Phase-3 project. The contract involves enhancing the Middle Mile Network in Himachal Pradesh, West Bengal, and Andaman & Nicobar to improve rural connectivity.

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Also Read: PSU stock jumps after company receives order worth ₹561 Cr for fire control system

Share price movement of Tera Software:

On January 14, 2025, Tera Software Ltd opened at ₹194.95, up 4.98% from its previous close of ₹185.70. The stock reached a high of ₹194.95. By 1:15 PM, it traded at ₹194.95, with a market cap of ₹243.9 crore.

Tera Software Secures ₹5,049 Cr BharatNet Order:

Tera Software Limited has secured an Advance Work Order (AWO) from the BharatNet Project consortium, valued at ₹5,049 crore. The contract covers the design, supply, construction, installation, upgradation, operation, and maintenance of the Middle Mile Network for Phase-3 of BharatNet.

The project spans Himachal Pradesh, West Bengal, and Andaman & Nicobar, to deliver services to 250,000 Gram Panchayats. The company, in partnership with ITI Limited, is executing this contract under the Design Build Operate and Maintain (DBOM) model for the BharatNet Phase-3 project.

Also Read: January Effect: A Myth or a Reality? A Delve into the World of Stock Market

Tera Software has been involved in the BharatNet initiative since Phase-I in Andhra Pradesh and Phase-II in Odisha, marking its continued expansion into Phase-III. The project is expected to enhance connectivity in rural areas, contributing to the government’s digital infrastructure goals.

Ace investor holding in Tera Software:

Mahendra Girdharilal

Mahendra Girdharilal has acquired 156,209 shares of Tera Software Limited, valued at ₹3.0 crore, with a stake of 1.25%. This move reflects growing investor interest in the company as it expands its presence in BharatNet projects.

Stock performance of Tera Software for Period of 1 week, 6 months and 1 year:

Tera Software Limited has shown a slight 0.08% return over the past week. However, it has demonstrated impressive growth, with a 150% return over the last six months and 146% over the past year, reflecting strong performance.

Also Read: Ambani group stock hits 5% lower circuit after its net profit declines by 29% QoQ

Shareholding pattern of Tera Software:

All values in %Dec 2024Sep 2024Jun 2024
Promoter47.50%47.50%47.50%
FII0.00%0.00%0.00%
DII0.00%0.00%0.00%
Public52.50%53%52.50%
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About Tera Software:

Tera Software Ltd. (NSE: TERASOFT), founded in 1994, is a Hyderabad-based e-governance company specializing in IT, ITeS, and enterprise solutions for public sector projects, including UIDAI, AADHAAR, and smart city initiatives.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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