Tata Communications soars as its arm unveils network of white label ATMs

Tata Communications Ltd. | Telecommunication - Service Provider | Telecom | BSE: 500483 | NSE: TATACOMM

28 Jun 2013 Evaluate

Tata Communications is currently trading at Rs. 156.70, up by 4.15 points or 2.72% from its previous closing of Rs. 152.55 on the BSE.

The scrip opened at Rs. 153.25 and has touched a high and low of Rs. 158.90 and Rs. 153.25 respectively. So far 15,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 266.35 on 26-Jul-2012 and a 52 week low of Rs. 148.30 on 27-Jun-2013.

Last one week high and low of the scrip stood at Rs. 183.95 and Rs. 148.30 respectively. The current market cap of the company is Rs. 4,465 crore.

The promoters holding in the company stood at 76.15%, while Institutions and Non-Institutions held 15.57% and 3.31% respectively.

Tata Communications’ wholly-owned subsidiary Tata Communications Payment Solutions (TCPSL), in line with the Reserve Bank of India’s (RBI) vision to accelerate growth and increase ATM penetration across the country, has inaugurated Indicash - India’s first-ever network of white label automated teller machines (ATMs) at Chandrapada, a rural village in Thane district, Maharashtra.

Indicash (‘India’ and ‘cash’), marks a milestone for the country and ushers in a new era of ATM accessibility for the masses across cities, towns and villages. Backed by the $100.09 billion Tata brand, India’s first network of white label ATMs is aimed at empowering millions of Indians with the convenience to access their own money with ease.

TCPSL will be deploying 15,000 Indicash ATMs in a record time of three years. Sixty seven per cent of these will be deployed in semi-urban and rural areas and 33 per cent will be installed in metro and urban markets. Phase two of the roll out will be to offer value added and utility services to customers using Indicash ATMs and to introduce offers and third party promotions.