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Tata Communications gains on signing agreement with Turkcell Superonline

05 Mar 2014 Evaluate

Tata Communications is currently trading at Rs. 288.10, up by 0.60 points or 0.21 % from its previous closing of Rs. 287.50 on the BSE.

The scrip opened at Rs. 290.35 and has touched a high and low of Rs. 293.75 and Rs. 286.05 respectively. So far 135816 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 319.50 on 07-Jan-2014 and a 52 week low of Rs. 136.90 on 05-Aug-2013.

Last one week high and low of the scrip stood at Rs. 289.85 and Rs. 275.00 respectively. The current market cap of the company is Rs. 8217.98 crore.

The promoters holding in the company stood at 74.99 % while Institutions and Non-Institutions held 19.40 % and 5.61 % respectively.

Tata Communications, a leading provider of A New World of Communications, and Turkcell Superonline, Turkey's innovative telecom operator, have signed a collaboration agreement to set up a Multiprotocol Label Switching (MPLS) node in Istanbul. This collaboration strengthens the reach of Tata Communications’ global MPLS network and brings direct and robust connectivity to global and regional businesses into and out of the region.

This partnership will enable businesses in Turkey, and adjoining countries where Turkcell Superonline has established cross-border fibre connectivity, to connect to Tata Communications’ global MPLS and Ethernet networks. Other value-added services such as video conferencing and managed security can also be accessed through this point-of-presence (PoP).

Tata Communications is a leading global provider of a new world of communications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.

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