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Tata Communications gains after extending partnership with Batelco

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Tata Communications was up 1.71% to Rs 501.45 at 14:36 IST on the BSE after the company extended its partnership with Bahrain's digital communications solutions provider.

The announcement was made during market hours today, 17 June 2019.

Meanwhile, the S&P BSE Sensex was down by 345.84 points, or 0.88% to 39,106.23

On the BSE, 6182 shares were traded in the counter so far compared with average daily volumes of 15,000 shares in the past two weeks. The stock had hit a high of Rs 502.90 and a low of Rs 490.45 so far during the day. It hit a 52-week high of Rs 626.65 on 2 April 2019 and a 52-week low of Rs 435.95 on 26 October 2018.

Batelco, Bahrain's leading digital communications solutions provider announced an extension of its partnership with Tata Communications, a leading global digital infrastructure provider, to offer flexible and reliable data connectivity with expanded global reach; to service providers, mobile network operators (MNO) and ISPs in the Middle East.

This new collaboration brings together Tata Communications' global Tier-1 IP network and its new partnership IP node with Batelco in Global Zone -the Carrier Neutral Tier-3 certified data centre in Bahrain, and the recently launched protected terrestrial cable system of the Batelco Gulf Network (BGN). The combination of these networks and infrastructures will offer service providers highly resilient network connectivity with increased reach in the Middle East and globally.

On a consolidated basis, Tata Communications reported a net loss of Rs 198.82 crore in Q4 March 2019 over a net loss of Rs 120.97 crore in Q4 March 2018. Net sales rose by 5.03% to Rs 4243.51 in Q4 March 2019 over Q4 March 2018.

Tata Communications is a global digital infrastructure provider.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 17 2019. 14:41 IST