Tata Communications soars on collaborating with Multinet Pakistan

Tata Communications is currently trading at Rs. 196.15, up by 5.85 points or 3.07% from its previous closing of Rs. 190.30 on the BSE.

The scrip opened at Rs. 193.00 and has touched a high and low of Rs. 197.00 and Rs. 192.25 respectively. So far 14695 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 342.25 on 15-Oct-2010 and a 52 week low of Rs. 182.15 on 23-Jun-2011.

Last one week high and low of the scrip stood at Rs. 205.00 and Rs. 187.00 respectively. The current market cap of the company is Rs. 5423.55 crore.

The promoters holding in the company stood at 76.15% while Institutions and Non-Institutions held 13.22% and 3.72% respectively.

Tata Communications, a leading provider of the new world of communications, has become one of the few global carriers to extend its Global IP / VPN service offerings into Pakistan, through a collaboration with Multinet Pakistan, an operating company of Axiata and an innovative provider of data and voice communications. The collaboration now makes Tata Communications the largest global Ethernet provider in the world.

The partnership will enable enterprise customers to enjoy the first commercially available Ethernet services in Pakistan, as well as global Multiprotocol Label Switching (MPLS) communications services, through a point of presence (PoP) deployment in Karachi.

The new services are particularly ideal for banking, financial services and insurance (BFSI) companies looking to grow their presence in Pakistan, or migrating from international private lines to MPLS or Ethernet. Manufacturing, energy, IT and software development are other fast-growing sectors of the economy which will benefit from improved connectivity to the region and the rest of the world.

Tata Communications’ focus on emerging markets sees it not only providing Pakistan a gateway to traditional developed markets around the world, but it also fosters enhanced trading relationships with geographies such as Middle East, Africa and South East Asia.

The Karachi PoP is the latest in Tata Communications' ongoing expansion of its global connectivity reach across the emerging markets. The global Telco recently engaged its global partners to establish PoPs in Doha, Qatar (in collaboration with Q-Tel), Riyadh, Kingdom of Saudi Arabia (together with Mobily) and in Dhaka, Bangladesh (under an agreement with ADSNL), as well as increasing over ten-fold, the capacity at the node in Dubai in the United Arab Emirates (in association Etisalat).

Tata Communications has also added a second node and Global Dedicated Ethernet services in Colombo, Sri Lanka. Additionally, the Telco is in the midst of constructing the TGN-Gulf (Tata Global Network-Gulf) cable system for the under-served Gulf region. The TGN-Gulf high-capacity submarine fibre optic system is due for completion within the next four months.