Tata Communications (TCL) is currently trading at Rs. 223.10, up by 4.35 points or 1.99% from its previous closing of Rs. 218.75 on the BSE.
The scrip opened at Rs. 218.90 and has touched a high and low of Rs. 224.75 and Rs. 218.15 respectively. So far 11523 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. 236.50 and Rs. 217.60 respectively. The current market cap of the company is Rs. 6374.03 crore.
The promoters holding in the company stood at 76.15% while Institutions and Non-Institutions held 13.58% and 3.63% respectively.
TCL is planning to hive off its data centre business into a subsidiary to unlock its value and enable it to raise funds without putting a strain on the parent company.
The company has appointed several organizations to deal with said matter, comprising McKinsey and Co. for strategy and business plans, Ernst and Young for structure and taxation issues, Kanga and Co. to assess real estate options, State Bank of India for fairness opinion, and Khaitan and Co. for companies Act-related issues.
In the past, the Tatas have faced problems raising debt in TCL and had to request the Centre to relax the debt ceiling. TCL, which is evaluating the possibilities of an all-cash bid of over $1 billion for UK's Cable and Wireless Worldwide, must get the government's approval before hiving off its data centre business.
Tata Communications owns and operates the world’s largest subsea cable network which reaches countries representing 99.7 percent of the world’s GDP.
| Company Name | CMP |
|---|---|
| Bharti Airtel | 1846.55 |
| Vodafone Idea | 9.62 |
| Indus Towers | 412.35 |
| Tata Communications | 1521.05 |
| Bharti Hexacom Ltd. | 1538.30 |
| View more.. | |
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