Tata Communications was down 0.57% to Rs 404.25 at 10:30 IST on BSE after the company said it won a multi-year contract worth $20 million from the KION Group.
The announcement was made during trading hours today, 6 February 2015.
Meanwhile, the BSE Sensex was down 66.69 points, or 0.23%, to 28,784.28.
On BSE, so far 14,000 shares were traded in the counter, compared with an average volume of 53,429 shares in the past one quarter.
Trading in the counter was volatile. The stock rose 1.09% at the day's high of Rs 411 so far during the day. The stock fell 1.66% at the day's low of Rs 399.80 so far during the day.
The stock hit a 52-week high of Rs 474.30 on 3 December 2014. The stock hit a 52-week low of Rs 268.25 on 20 February 2014.
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The stock had underperformed the market over the past one month till 4 February 2015, falling 4.43% compared with 3.57% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.02% as against Sensex's 3.67% rise.
The large-cap company has an equity capital of Rs 285 crore. Face value per share is Rs 10.
Tata Communications announced that it has won a multi-year contract with the KION Group, the second largest global manufacturer of forklift trucks and warehouse technology, to provide global WAN (Wide Area Network) services to the group's 280 sites and 22,000 employees across 30 countries worldwide. The $20 million deal will see Tata Communications replace the KION Group's existing stable of multiple WAN providers with a single, global, intelligent network. This network is a critical element in achieving the KION Group's Strategy 2020 objective of harnessing its global potential even more effectively.
The innovative network will utilise a combination of cutting edge technologies to allow the KION Group to handle data more intelligently and with greater visibility than ever before. The fact that the WAN will run on Tata Communications' wholly-owned global dedicated backbone and utilise Tata Communications' cloud-based security solution means the KION Group will have direct access to internet-based applications, improving both user experience and cost effectiveness.
The KION Group is the largest manufacturer of industrial trucks in western and eastern Europe, the global number two in the industry and the leading non-domestic supplier in China. The KION Group is present in more than 100 countries.
Tata Communications will announce Q3 results on 12 February 2015. On consolidated basis, the company's 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 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. The Tata Communications global network includes one of the most advanced and largest submarine cable networks and a Tier-1 IP network with connectivity to more than 240 countries and territories across 400 PoPs, as well as nearly 1 million square feet of data centre and collocation space worldwide. Tata Communications' depth and breadth of reach in emerging markets includes leadership in Indian enterprise data services and leadership in global international voice.
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