Tata Communications gains on sale of land parcel at Chennai
The company as completed a sale transaction of the land parcel and building situated at Nungambakkam, Chennai, for a transaction value of Rs 192.30 crore.
Tata Communications is trading higher by 2.3% at Rs 235, bouncing back almost 5% from intra-day’s low after a Tata Group company said that it has completed a sale transaction of the land parcel and building situated at Nungambakkam, Chennai, for a transaction value of Rs 192.30 crore.
“This land parcel and building was earlier being used as a staff housing colony. The company has received the payment of entire amount of Rs 192.3 crore,” Tata Communications said in a BSE filing.
The above transaction is in line with the company's objective of monetizing its non-core assets, it added.
The stock opened at Rs 228 and hit a low of Rs 224 in morning trades on NSE. A combined around 120,000 shares have changed hands on the counter so far on NSE and BSE.
“This land parcel and building was earlier being used as a staff housing colony. The company has received the payment of entire amount of Rs 192.3 crore,” Tata Communications said in a BSE filing.
The above transaction is in line with the company's objective of monetizing its non-core assets, it added.
The stock opened at Rs 228 and hit a low of Rs 224 in morning trades on NSE. A combined around 120,000 shares have changed hands on the counter so far on NSE and BSE.