Tulip Telecom is currently locked at upper circuit at Rs. 34.30, up by 1.60 points or 4.89% from its previous closing of Rs. 32.70 on the BSE.
The scrip opened at Rs. 34.30 and has touched a high and low of Rs. 34.30 and Rs. 34.00 respectively. So far 29178 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 129.00 on 06-Jul-2012 and a 52 week low of Rs. 32.40 on 31-Dec-2012.
Last one week high and low of the scrip stood at Rs. 35.65 and Rs. 32.40 respectively. The current market cap of the company is Rs. 497.35 crore.
The promoters holding in the company stood at 67.83% while Institutions and Non-Institutions held 15.96% and 16.21% respectively.
Tulip Telecom, India’s leading Enterprise Data Services, is in talks with its lenders to restructure its debt with longer maturity periods, including a moratorium on principal and interest payments. The corporate debt restructuring (CDR) programme, which the company will undertake, is not only targeted to ensure better liquidity, will also enable it to focus and strengthen its core operations.
At the end of September 2012, Tulip Telecom had a total debt of Rs 2,400 crore. More than 90% of shares held by promoters, who own about 68% in the company, are pledged with lenders.
Tulip Telecom is India’s leading Enterprise Data Services provider. The company’s data network has the largest reach of over 2,000 locations globally. The company designs, implements and manages communications networks of large enterprises on long term contracts to include enterprise communications connectivity, network integration, managed services and data centers.
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