Tata Communications is currently trading at Rs. 225.35, up by 1.45 points or 0.65% from its previous closing of Rs. 223.90 on the BSE.
The scrip opened at Rs. 223.95 and has touched a high and low of Rs. 227.15 and Rs. 223.25 respectively. So far 2767 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 263.75 on 18-Apr-2011 and a 52 week low of Rs. 176.30 on 24-Nov-2011.
Last one week high and low of the scrip stood at Rs. 239.00 and Rs. 220.40 respectively. The current market cap of the company is Rs. 6439.58 crore.
The promoters holding in the company stood at 76.15% while Institutions and Non-Institutions held 13.58% and 3.63% respectively.
Tata Communications likely to acquire 5.76% stake in Tamil Nadu-based Green Infra Wind Generation as part of its plans to use power from alternative energy sources. As per the plan it will buy 10 million units of power, which is about 30% of its annual power requirement in Tamil Nadu, from Green Infra.
For implementing the deal telecom company has sought Government's approval. The company already has an agreement with Green Infra to procure 13 million units. The additional procurement will take Tata Communication's to 23 million units.
The entity has already invested Rs 7.8 lakh in Green Infra Wind Farms for a 9.75% stake. The telecom company's board has approved buying up to 15% stake in Green Infra Wind Farms. Under that deal also Tata Communication had entered into a power purchase agreement with Green Infra for buying 20 million units at Rs 4.60 a unit.
