Tata Communications rose 1.08% to Rs 458.20 at 15:15 IST on BSE on media reports that its wholly-owned subsidiary has put its ATM business on the block.
Meanwhile, the S&P BSE Sensex was down 48.67 points or 0.18% at 26,818.25.
On BSE, so far 62,000 shares were traded in the counter as against average daily volume of 38,945 shares in the past one quarter. The stock rose as much as 2.11% at the day's high of Rs 462.90 so far during the day. The stock lost as much as 0.11% at the day's low of Rs 452.80 so far during the day. The stock had hit a 52-week high of Rs 490.30 on 24 July 2015. The stock had hit a 52-week low of Rs 325.70 on 29 February 2016. The stock had underperformed the market over the past one month till 20 June 2016, advancing 1.83% compared with Sensex's 6.19% rise. The scrip had, however, outperformed the market in past one quarter, surging 24.53% as against Sensex's 7.67% rise.
The large-cap company has equity capital of Rs 285 crore. Face value per share is Rs 10.
According to reports, Tata Communications Payment Solutions (TCPSL), a wholly-owned unit of Tata Communications, has put its ATM business on the block and is targeting a valuation of Rs 1000-1350 crore. TCPSL had carved out Indicash -the division that owns the white-label ATMs that are rented out to multiple banks. Tatas are looking to sell the entire stake in this business, reports suggested.
On consolidated basis, Tata Communications reported net loss of Rs 205.89 crore in Q4 March 2016, higher than net loss of Rs 178.25 crore in Q4 March 2015. Net sales rose 6.9% to Rs 5145.41 crore in Q4 March 2016 over Q4 March 2015.
Tata Communications along with its subsidiaries is a leading global provider of communications.
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