Tata Comm inks deal with Singapore-based firm; stock zooms 28% in two days

Tata Communications will provide global internet and state-of-the-art cyber security services for Kacific's Ka-band satellite network

Shares of Tata Communications rallied 11 per cent on the BSE on Thursday to hit a fresh 52-week high of Rs 465 after the company and Singapore-based Kacific inked a global IP connectivity and cyber security deal. In the past two trading days, the stock has zoomed 28 per cent from its Tuesday’s closing price of Rs 364 on the BSE.

“Kacific Broadband Satellites Group (Kacific) has selected Tata Communications, a leading global digital infrastructure provider, to provide terrestrial connectivity services as it readies for the launch of its first satellite, Kacific1,” Tata Group Company said in a press release.