Tata Communications rose 1.15% to Rs 418 after the company entered into an arrangement with Neeco Global to deliver Internet of Things services for enterprises in Europe.
The announcement was made after market hours yesterday, 3 September 2019.On BSE, 17,000 shares were traded in Tata Communications counter, compared to a 2-week average of 11,000 shares. The stock hit an intraday high of Rs 428.40 and an intraday low of Rs 416.80.
Neeco Global ICT Services announced that it has become a customer of Tata Communications to take to market and deliver Internet of Things (IoT) services for enterprises in Europe. With this arrangement, Neeco will leverage the Tata Communications MOVE platform to offer integrated IoT services to its customers, enabling them to deploy IoT connected devices anywhere in the world.
Neeco Global ICT Services is a leading global provider of complex ICT services. Neeco has developed a unique set of IoT products and services for different sectors such as transport & logistics, waste management construction, agriculture, leasing companies and rental companies.
Tata Communications provides telecommunication services. The firm's segments include voice solutions (VS) and data and managed services (DMS).
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