Tata Communications surges on inking HDVC interconnect pact with PCCW Global

Tata Communications is currently trading at Rs. 381.10, up by 4.65 points or 1.24% from its previous closing of Rs. 376.45 on the BSE.

The scrip opened at Rs. 376.80 and has touched a high and low of Rs. 383.85 and Rs. 376.80 respectively. So far 75279 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 412.00 on 07-Jul-2014 and a 52 week low of Rs. 219.20 on 29-Oct-2013.

Last one week high and low of the scrip stood at Rs. 383.85 and Rs. 359.40 respectively. The current market cap of the company is Rs. 10832.85 crore.

The promoters holding in the company stood at 74.99% while Institutions and Non-Institutions held 18.75% and 6.26% respectively.

Tata Communications and PCCW Global, the international operating division of HKT, Hong Kong’s premier telecommunications service provider, have signed a high definition video conferencing (HDVC) interconnect agreement to interconnect the two companies’ IPX and MPLS networks via a Network-to-Network Interface (NNI). This will allow both companies to offer global enterprise customers enhanced network data services and the highest quality HD video conferencing capability.

This bilateral HDVC interconnect agreement is the first of its kind in the Asia Pacific region. It builds on the existing relationship between Tata Communications and PCCW Global, which began with the companies working together to deliver Voice over IPX in 2013. The addition of the MPLS NNI interconnection extends this relationship with expanded network capabilities for data and video, thereby allowing both companies to access each other’s extensive global fiber-based MPLS networks.

PCCW Global and Tata Communications’ respective enterprise customers now have the ability to connect directly in HD video with customers, suppliers and employees around the world through a faster, higher quality data connection. The interconnection will also enable customers of both companies to access a variety of applications (voice, data and video) regardless of their location and have the opportunity to expand their reach globally with increased access to destinations in Asia, Europe, the Middle East, Africa and the Americas.

Tata Communications is a leading global provider of a new world of communications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.