Tata Communications hits over 2-year high; stock zooms 112% in 3 months

Shares of Tata Communications were locked in the 5 per cent upper circuit for the second straight day on the BSE at Rs 700.55 on Tuesday, hitting an over two-year high in an otherwise weak market.

The stock of the Tata group company was trading at its highest level since December 15, 2017. In the past three months, it had rallied 112 per cent after the company delivered strong operating performance during the January-March quarter (Q4FY20).  In comparison, the S&P BSE Sensex was up 18 per cent during the period.

In Q4FY20, Tata Communications EBITDA (earnings before interest, taxes, depreciation,