Tata communications transferred 773 acres of land valued at about Rs 12,000 crores in to Hemisphere Properties India (HPIL)
The stock surged 9% to Rs 758 on the BSE after the company said the board approved demerger of around 773 acres of surplus land to a separate company and listing it subsequently.
There will be no change in the shareholding pattern of the company pursuant to the demerger, Tata Communications said