Locally, the company faces competition from Chinese players like Huawei. They give really high discounts for some products to strategically win orders which involves many products. It works for them because their portfolio is very wide.
Government business is lumpy and private capex hasnt picked up properly yet.
Internationally, Tejas used to earn good amount of revenue from OEMs but last year company decided to stop selling through OEM route and started selling with it’s own brand name. This resulted in drop on international revenues. Market is probably worried about uncertainty around this. However, I personally think this is a good step and can improve profitability in long run. In the USA, Indian companies have some advantage over chinese players because of recent woes around security.
Many employees who receive ESOPs sell them immediately and cash in. In previous correction when stock price had corrected to around 120 rs, the chairman and some more top members had bought significant amount of shares from the open market. This is around February this year which is not much far.
Invested and bought more on Friday