Analysts flagged key technical levels and warned of continued weakness unless a reversal is confirmed.

Shares of Tejas Networks took a sharp dive on Tuesday morning, tumbling 10% at the open to touch ₹627.45, marking their lowest level in over two years. 

The slide followed a weak June quarter update that came in after Monday's close, showing a swing to losses and a steep drop in revenue.

Tejas Networks posted a net loss of ₹194 crore for the first quarter, reversing from a ₹77 crore profit in the same period last year. The loss also deepened from the March quarter, when the company had reported a ₹72 crore deficit. 

Revenue fell 87% year-on-year to ₹202 crore, with the company pointing to delays in customer orders, inventory arrival, and shipping clearances.

Operating performance took a hit as well, with core loss slipping to ₹136 crore, compared to a profit of ₹230 crore a year ago. 

Despite the weak numbers, the company noted that it secured new router orders under BharatNet Phase 3, signed strategic deals, and closed the quarter with a ₹1,241 crore order book.

SEBI-registered analyst Vinay Kumar Taparia noted that the stock sold off early on poor results but was seeing some buying interest as the day progressed. 

According to him, it’s still early to call whether the stock is bottoming out or breaking down further, and a few more sessions of trading will offer clarity.

Separately, SEBI-registered analyst Vijay Kumar Gupta described the move as a major breakdown, pointing to heavy volume, a bearish price candle, and signs of panic selling. 

He said short-term sentiment looks weak, with ₹620–₹630 as the next area to watch. Any rebound, he cautioned, would need confirmation from volume and a move above ₹700 before it can be trusted.

On Stocktwits, retail sentiment was ‘bearish’ amid ‘high’ message volume.

The stock has declined 44.3% so far in 2025.

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