Tata Communications recovers after recent slide

Tata Communications rose 3.02% to Rs 275 at 14:36 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was down 6.94 points or 0.03% at 20,652.58.

On BSE, so far 65,000 shares were traded in the counter as against average daily volume of 80,715 shares in the past one quarter.

The stock hit a high of Rs 279.80 and a low of Rs 267.70 so far during the day. The stock had hit a 52-week high of Rs 299.70 on 2 December 2013. The stock had hit a 52-week low of Rs 136.90 on 5 August 2013.

The stock had underperformed the market over the past one month till 16 December 2013, sliding 4.4% compared with the Sensex's 1.28% rise. The scrip had, however, outperformed the market in past one quarter, jumping 49.51% as against Sensex's 4.65% rise.

The mid-cap company has equity capital of Rs 285 crore. Face value per share is Rs 10.

Shares of Tata Communications had declined 7.35% in seven trading sessions to settle at Rs 266.95 on Monday, 16 December 2013 from a recent high of Rs 288.15 on 5 December 2013.

Tata Communications reported a consolidated net profit of Rs 80.36 crore in Q2 September 2013 compared with net loss of Rs 274.24 crore in Q2 September 2012. Net sales rose 16% to Rs 4952.61 crore in Q2 September 2013 over Q2 September 2012.

Tata Communications is a leading global provider of a new world of communications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.

Powered by Capital Market - Live News