12-06-2024 04:46 PM | Source: Accord Fintech
Tata Communications gains on inking five-year host broadcasting services deal with World Athletics

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Tata Communications is currently trading at Rs. 1896.55, up by 17.40 points or 0.93% from its previous closing of Rs. 1879.15 on the BSE.

The scrip opened at Rs. 1882.05 and has touched a high and low of Rs. 1916.00 and Rs. 1882.05 respectively. So far 28968 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2085.00 on 03-Apr-2024 and a 52 week low of Rs. 1,475.00 on 13-Jun-2023.

Last one week high and low of the scrip stood at Rs. 1916.00 and Rs. 1740.00 respectively. The current market cap of the company is Rs. 53991.83 crore.

The promoters holding in the company stood at 58.86%, while Institutions and Non-Institutions held 31.37% and 9.77% respectively.

Tata Communications has entered into a five-year global host broadcasting services deal covering the World Athletics Series of events. From 2025, Tata Communications will be a key strategic supplier for World Athletics, with a view to elevating innovation and audience engagement to new heights. The collaboration kicks off in another huge year for the sport, with 2025 including the World Athletics Indoor Championships in Nanjing in March, World Athletics Relays in Guangzhou in May and World Athletics Road Running Championships in San Diego in September, as well as the flagship World Athletics Championships in Tokyo. 

The World Athletics Championships, taking place from September 13-21 in 2025, is an event which regularly draws a global viewing audience of one billion people. Tata Communications will empower World Athletics to captivate a global fan base and forge lasting connections with the sport by amplifying the excitement and drama of live global athletics competitions. The company will deliver customised, world-class live content to broadcasters across continents, to ensure the action reaches fans in every corner of the globe. As the host broadcaster, it will take on the pivotal role of crafting immersive coverage for World Athletics events globally. Furthermore, Tata Communications will enable broadcasters to elevate the viewer experience and create a connected fan base through localized regional feeds.

The deal with World Athletics benefits from Tata Communications global media platform underpinned by a video native edge platform and application stack, offers reliable end-to-end support that meets the coverage demands of the sport’s action-packed calendar of international events. The enhanced technology platform will enable World Athletics to bring a superior broadcast experience for fans globally. World Athletics is committed to increasing the reach of the sport across the world. Tata Communications shares this vision with World Athletics and will support them in this endeavour, with a focused emphasis on supporting initiatives within India. Tata Communications will also work with Worth Athletics to use the power of technology to enhance and progress World Athletics’ sustainability efforts, which is core to its future strategy.

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