Tata Comm surges 9% on acquisition of majority stake in France's Oasis

Tata Communications will drive and accelerate product roadmap R&D with Oasis, leveraging and amplifying the growth in the mobility and IoT markets

Shares of Tata Communications surged 9 per cent to Rs 1,140 on the BSE on Thursday after the company announced the acquisition of majority stake in France-based embedded-SIM (eSIM) technology provider, Oasis Smart SIM Europe SAS (Oasis).

The Tata Group company's stock hit a record high in intra-day today, surpassing its previous high of Rs 1,103, touched on November 25, 2020. In the past six months, the stock has zoomed 90 per cent, as compared to 34 per cent rise in the S&P BSE Sensex.

According to press release, Oasis develops and provides advanced technologies and personalised services