Published on 23/02/2021 2:34:29 PM | Source: Accord Fintech

Tata Communications shines on the BSE

Posted in Stock Market| #Tata Communication Ltd #Stock Market

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Tata Communications is currently trading at Rs. 1050.95, up by 32.25 points or 3.17% from its previous closing of Rs. 1018.70 on the BSE.

The scrip opened at Rs. 1049.00 and has touched a high and low of Rs. 1066.00 and Rs. 1034.20 respectively. So far 24339 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1168.80 on 12-Jan-2021 and a 52 week low of Rs. 205.70 on 19-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1082.35 and Rs. 1000.00 respectively. The current market cap of the company is Rs. 29956.35 crore.

The promoters holding in the company stood at 74.99%, while Institutions and Non-Institutions held 19.05% and 5.97% respectively.

The Competition Commission of India (CCI) has approved acquisition of shares of Tata Communications (TCL) by Panatone Finvest. The proposed deal envisages acquisition of shareholding not exceeding 26.12 per cent by Panatone Finvest in Tata Communications. The Government of India looks to divest its 26.12 per cent equity stake in TCL. The Cabinet Committee on Economic Affairs (CCEA) on December 30, 2020 approved sale of stake in TCL.

After the acquisition of shares, Panatone Finvest would increase its shareholding from 48.87 per cent to such shareholding not exceeding 74.99 per cent.

Tata Communications along with its subsidiaries is a leading global provider of A New World of Communications.