Top investor Vijay Kedia has exited his position in Tata Group firm Tejas Networks Ltd, as per the latest shareholding data for the June 2025 quarter.
The filing on the Bombay Stock Exchange does not list Kedia Securities through which Kedia held the stock, among public shareholders, indicating that his stake has either been entirely offloaded or fallen below the 1 per cent reporting threshold.
As of March 2025, Kedia held 18 lakh shares or a 1.02 per cent stake in Tejas Networks. The investor had originally entered the counter in Q1 FY21 with a 1.52 per cent holding, which peaked at 4.39 per cent in the September 2020 quarter before he started paring his position.
Sharp deterioration in Q1 earnings
Tejas Networks reported a consolidated net loss of Rs 194 crore for the June quarter (Q1 FY26), compared to a net profit of Rs 77 crore in the year-ago period. Revenue from operations came in at Rs 202 crore, plunging sharply from Rs 1,563 crore in Q1 FY25 and Rs 1,907 crore in Q4 FY25.
EBIT stood at a negative Rs 232 crore in the first quarter, against a positive Rs 167 crore in Q1 FY25 and Rs 18 crore in Q4 FY25. The company blamed the dismal performance on delays in purchase order inflows and shipment clearances.
Stake trimmed steadily since 2020
Kedia had consistently reduced his stake over the past three years. From 4.2 per cent in September 2020, his shareholding dropped to 1.87 per cent by June 2024 and further to 1.02 per cent by March 2025. His apparent exit now comes amid a sharp turnaround in the company’s financials and weak execution visibility.
The exit also comes amid broader nervousness around midcap IT and telecom hardware counters that have seen erratic order flows post-COVID and a return to discretionary spending cuts by governments and enterprises.
What’s next for the stock?
Tejas Networks’ weak earnings, coupled with the exit of a marquee investor like Kedia, could weigh on investor sentiment. The stock has already seen pressure post the Q1 results and may remain under scrutiny unless clarity emerges on the order pipeline and margin recovery.
