Tejas Networks shares hit upper circuit third day in day row; what should investors do?

Price action suggests that the stock is likely to extend the rally towards its 200-day SMA placed at 63-odd level, says Vinay Rajani of HDFC Securities.

Tejas Networks share price surged 5 percent intraday on July 10, hitting the upper circuit for the third consecutive session.

The share price rose a day after Kedia Securities, owned by investor and trader Vijay Kedia, acquired a 0.81 percent stake in the company for Rs 3.7 crore through open market transactions.

Kedia Securities bought 7,53,925 equity shares in Tejas at Rs 49.13 per share, bulk deals data available on the National Stock Exchange showed.

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