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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Valiant Communications Ltd (BSE: 526775) has issued a clarification regarding its joint venture with Tejas Networks Limited (NSE: TEJASNET), a Tata Group company, clarifying that the JV is formed exclusively for Project #2 of the Gujarat Energy Transmission Corporation (GETCO), with no special purpose vehicle involved. Valiant, acting as Lead Bidder, has received a Letter of Intent (LOI) from GETCO with Valiant's approximate gross share valued at INR 3,900 Lacs (Rs. 39 crore). Under the LOI, Valiant will supply and commission Communication, Protection, and Synchronization equipment. This LOI is in addition to Project #1 of GETCO, which was announced earlier on January 10, 2025. The detailed Purchase Order and contract are expected to follow in due course.
Positive for shareholders — receipt of a fresh LOI worth ~Rs. 39 crore from a major state power utility strengthens the order book and reinforces Valiant's positioning as a domestic manufacturer aligned with 'Make in India' and 'Atmanirbhar Bharat' initiatives. Confirmation as Lead Bidder in the Tejas Networks JV enhances visibility on execution, though the stock awaits the formal purchase order for further upside.