Page 2 - Tata Communications

Tata Communications to expand media & entertainment services: Details here

Amur Lakshminarayanan, managing director and chief executive of Tata Communications, stated that the company will continue investing in building its portfolio to keep the growth momentum

Tata Comm moves ITAT against Rs 228.49 cr TDS order by Income Tax Dept

Tata Communications has moved the Income Tax Appellate Tribunal against an income tax commissioner court order rejecting the company's appeal against a tax demand of Rs 228.49 crore, according to an exchange filing. The company in a late-night filing on Friday stated that the company had filed appeals before the Commissioner of Income-tax (Appeals), Mumbai, in respect of TDS orders alleging short deduction of tax at source for assessment years 2013-14 to 2018-19. The potential financial implications are Rs 228.49 crore on the company, it said. The Commissioner of Income-tax (Appeals), Mumbai, passed orders received by the company on September 07, 2023 deciding the appeals against the company. "The company has on September 08, 2023, filed an appeal against these orders before the Income Tax Appellate Tribunal," Tata Communications said.

Tata Communications launches cloud-based roaming lab for 5G trials

The cloud-based 5G roaming lab trials the international mobile roaming experience by closely monitoring traffic movement and network usage

Buy Tata Communications, India Glycols, recommends HDFC Securities

On the broader market outlook, Vinay Rajani the technical & derivative analyst says the Nifty may find a directional move on breakout from the 19,270-19,500 trading band.

Tata Communications challenges DoT's Rs 991.5 cr fee demand in TDSAT

Tata Communications has challenged Telecom Department's Rs 991.5 crore licence fee demand pertaining to past years, in TDSAT, which has directed the DoT not to take any coercive action till the next hearing, the company said in a filing on Friday. The Department of Telecom (DoT) in its demand letter dated August 8, 2023, has raised certain license-fee demands of Rs 991.54 crore pertaining to FY 2006-07 (international long-distance and internet service provider) and FY 2007-08 (NLD, ILD and ISP). "These demands have been challenged by the company before...TDSAT (Telecom Disputes Settlement and Appellate Tribunal), wherein after hearing both the parties, ...TDSAT, vide its order dated 14 August 2023 received by the company on 17 August 2023, has directed DoT not to take any coercive action till the next hearing," Tata Communications said in a BSE filing. The company further said it has already included the amount in dispute as part of the notes to accounts in the quarterly financial .

Nifty50: Uptrend likely once it breaches 19,700; support seen at 19,300

A level below 19,300 would be considered bearish sign in Nifty for the short term, says Vinay Rajani, senior technical and derivative research analyst at HDFC Securities

Tata Communications net profit falls by 30% to Rs 382 crore in June quarter

Tata Communications on Wednesday posted a 29.8 per cent fall in consolidated net profit at Rs 382 crore in the June quarter, hit by higher interest costs and lower forex gains. The consolidated revenue rose 10.7 per cent year-on-year to Rs 4,711 crore. The data business revenue stood at Rs 3,912 crore, an increase of 17.1 per cent over the same period previous year. In the first quarter of the current fiscal, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) from data business stood at Rs 929 crore, down 4.2 per cent year on year largely "due to inorganic costs coming in this quarter", the company said in a statement. "We have had a pivotal first quarter in FY24 delivering a very strong revenue growth in our data business and the digital portfolio, closing The Switch deal and announcing the Kaleyra acquisition," Tata Communications MD and CEO A S Lakshminarayanan said. He also said the company is on track with the execution of its strategy and the strengthe

PFC, Sanghvi Movers, Bajaj twins: Trading strategies for buzzing stocks

These 5 buzzing stocks may rise up to 15% in the coming sessions

Stocks to Watch today, July 11: Vedanta, LIC, Vadilal, PCBL, Tata Comm, PFC

Stocks to watch on July 11, 2023: Shares of Nazara Tech and Satin Creditcare may see some action as the boards approved fund raising proposals.

Tata Comm to acquire remaining 41.9% stake in OSSE France for Rs 99.3 cr

Tata Communications will acquire the remaining 41.9 per cent stake in eSIM company OSSE France for Rs 99.3 crore, the company said on Monday. Following the transaction, which the company expects to close in about a month, Tata Communications' Singapore-based subsidiary Tata Communications International Pte (TCIPL) would acquire 100 per cent equity shareholding in Oasis Smart SIM Europe. "TCIPL will acquire full equity ownership in OSSE France, increasing its shareholding from the current stake of 58.1 per cent to 100 per cent by buying out the remaining stake of 41.9 per cent," Tata Communications said in a regulatory filing. In 2020, TCIPL acquired a majority equity stake of 58.1 pc in Oasis Smart Sim Europe SAS (OSSE France) and Oasis Smart E-Sim Pte Ltd (OSEPL) Oasis, making OSSE France and OSEPL its subsidiaries. OSEPL is a wholly-owned subsidiary of OSSE France. "The acquisition of Oasis will help Tata Communications complete the alignment of Oasis eSIM R&D road map with Tata

Tata Comm: Upsides in stock limited given execution challenges, valuations

Sharp rally and integration/execution challenges may cap upsides for the stock

Tata Communication slips 4% on acquisition plan of US-based Kaleyra

Kaleyra is a global omnichannel integrated communication services provider with a set of proprietary platforms, which offers targeted personalisation through messaging, video, push notifications

Tata Comm to acquire NYSE-listed Kaleyra for $100 mn in all-cash deal

The firm reported revenue of $339.17 million in 2022, up from $267.74 million in CY21

Ajmera Realty acquires land parcel in Mumbai from Tata Comm for Rs 76 cr

The land is located in Mumbai's Vikhroli East. With its strategic location and contemporary offerings, land is a preferred residential choice for prospective buyers in the area

Ajmera Realty buys land parcel in Mumbai from Tata Comm for Rs 76 cr

Ajmera Realty & Infra India Ltd has acquired 5,017 square meters of land in Mumbai from Tata Communications for Rs 76 crore to build a residential project. The land parcel, located at Vikhroli East, has been acquired by its subsidiary Shree Yogi Realcon Pvt Ltd in a bidding process for a total consideration of Rs 76 crore. The acquisition is intended for the residential development offering 1/2/3 BHK, with an estimated gross sales value of Rs 550 crore, the company said. The land acquisition is a part of Ajmera Realty's growth strategy, to continue broadening its scope in newer micro-markets across the Mumbai & MMR region, where residential sales have accelerated and is expected to grow further. Dhaval Ajmera, the company's director, said the land acquisition in Vikhroli aligns with the objective of strengthening the company's footprint across real estate micro markets in Mumbai & MMR.

Tata Communications Q4 consolidated net profit dips about 11% to Rs 326 cr

Tata Communications on Wednesday posted about 11 per cent decline in the consolidated net profit to Rs 326.03 crore in the fourth quarter ending March 31, 2023. The company posted a profit of Rs 365.06 crore in the same period a year ago. The consolidated income from operations increased marginally to Rs 4,586.66 crore during the reported quarter from Rs 4,263.03 crore in the March 2022 quarter. For the year ended March 31, 2023, the company posted about 21 per cent increase in consolidated profit at Rs 1,795.96 crore compared to Rs 1,481.76 crore it posted at the end of 2021-22. The consolidated income from operations increased by 6.6 per cent to Rs 17,838.26 crore at end of 2022-23 from Rs 16,724.73 crore it posted at the end of 2021-22.

Formula E, Tata Com announce multi-year collaboration on broadcasting races

Electric car racing body Formula E and Tata Communications on Saturday announced a strategic multi-year collaboration with the digital services company becoming the official broadcast distribution provider to the ABB FIA Formula E World Championship. The new agreement will see Tata Communications deliver high-definition, high-resolution and high-speed live broadcast content to viewers around the world as part of Formula E's new remote broadcast production of live races, reducing the environmental impact typical of major live international sports events on TV, a release from the company said. Tata Communications MD and CEO A S Lakshminarayanan said: "Our relationship with Formula E is another example of how we are enabling organisations with the power of technology to deliver ground-breaking entertainment in a sustainable and environmentally positive way. We are passionately evolving and innovating our solutions portfolio to allow Formula E to harness the power of digital and cloud ..

Tata Communications Q3 net flat at Rs 394 cr; revenue rises to Rs 4,528 cr

Tata Communications on Monday reported a consolidated net profit of about Rs 394 crore for the just-ended December 2022 quarter, a tad lower than the year-ago period. The Q3 FY23 net profit was 0.3 per cent lower than last year's figure of about Rs 395 crore (profit for the period attributable to equity holders of the parent). Seen sequentially, the net profit was down 26 per cent from the September quarter. Tata Communications' consolidated revenue for the quarter ended December 2022 came in at about Rs 4,528 crore, 8.2 per cent higher on-year. Data business revenues stood at Rs 3,593 crore, recording an increase of 11.1 per cent on-year, the company said in a statement, adding strong momentum in the digital platforms and services segment continued. The core connectivity portfolio reported growth of over 6 per cent year-on-year in revenue, and the digital platforms and services delivered growth of over 17.2 per cent, according to the statement. Tata Communications CEO A S ...

Stocks to Watch: Aban Holdings, Landmark Cars, RIL, Lupin, Gail, JK Cement

Stocks to Watch Aban Holdings and Landmak Cars will be debuting on the stock exchanges on Friday. Both these stocks are likely to witness a tepid start to trade.

Tata Communication to acquire US-based Switch Enterprises for Rs 486 cr

Tata Communications will acquire New York-based end-to-end live video production company The Switch Enterprises in an all-cash deal for Rs 486 crore, the company said on Thursday. With both companies coming together, Tata Communications will support The Switch customers with global reach to over 190 countries and territories and The Switch will bring live production capabilities helping organisations to produce high quality immersive content faster and efficiently, Tata Communications said in a statement. "Tata Communications (Netherlands) B.V., a wholly-owned indirect subsidiary of Tata Communications Limited, will acquire 100 per cent equity stake of Switch Enterprises, LLC, USA and, as part of the transaction, through its wholly-owned subsidiaries," Tata Communications said. The company will acquire the assets of the subsidiaries of Switch Enterprises, LLC based out of Canada, the United States of America and the United Kingdom. Switch Enterprises, LLC, USA, along with its ...