Tata Communications soared 13.48% to Rs 413 after the company said it appointed Amur Swaminathan Lakshminarayanan as the managing director & chief executive officer for five years with effect from 26 November 2019.
The announcement was made after market hours yesterday, 26 November 2019.
Meanwhile, the S&P BSE Sensex was up 223 points or 0.55% to 41,044.34.
On the technical front, the stock's RSI (relative strength index) stood at 71.451. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock was currently trading above its 50-day moving average (DMA) placed at Rs 353.27, but it was below its 200 DMA placed at Rs 474.39.
Tata Communications' consolidated net profit surged 2,583.7% to Rs 55.82 crore on 5% increase in net sales to Rs 4,272.76 crore in Q2 September 2019 over Q2 September 2018.
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Tata Communications' segments include voice solutions (VS) and data and managed services (dms). The VS segment includes international and national long distance voice services.
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