Tata Communications rose 0.86% to Rs 430.50 at 12:22 IST on BSE after the company announced investment for capacity purchase in Seaborn Networks' US-Brazil cable system between Brazil and US.
The announcement was made during market hours today, 19 January 2015.
Meanwhile, the S&P BSE Sensex was up 79.71 points or 0.28% at 28,201.60.
On BSE, so far 28,000 shares were traded in the counter as against average daily volume of 53,383 shares in the past one quarter.
The stock was volatile. The stock rose as much as 2.76% at the day's high of Rs 438.65 so far during the day. The stock rose 0.24% at the day's low of Rs 427.90 so far during the day. The stock had hit a 52-week high of Rs 474.30 on 3 December 2014. The stock had hit a 52-week low of Rs 260.10 on 4 February 2014.
The stock had underperformed the market over the past one month till 16 January 2015, advancing 2.42% compared with Sensex's 5.01% rise. The scrip had, however, outperformed the market in past one quarter, jumping 17.65% as against Sensex's 8.16% rise.
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The large-cap company has equity capital of Rs 285 crore. Face value per share is Rs 10.
Genius Wong, Senior Vice President, Global Network Services, Tata Communications said, "Latin America is a key emerging region and growing market on the world stage and our investment in Seabras-1 is part of our plan to enhance our offerings into that region. With the Seabras-1 cable landing in Tata Communications' wall cable landing station in the US, this will also enable seamless extension of our TGN-network".
On consolidated basis, Tata Communications' net profit rose 15% to Rs 92.39 crore on 2.4% growth in net sales to Rs 5071.59 crore in Q2 September 2014 over Q2 September 2013.
Tata Communications along with its subsidiaries is a leading global provider of A New World of Communications.
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