Shares of Tata Communications, earlier state-owned VSNL, were down 7 per cent at Rs 1,206 on the BSE in intra-day trade on Tuesday as offer for sale (OFS) to divest the government holding in the company opened today for institutional investors. The government will sell its 10 per cent stake, with an option to sell an additional 6.12 per cent stake in Tata Communications. As of December 31, 2020, the government held a 26.12 per cent stake in telecom alternative carriers company through the President of India, the shareholding pattern data shows. The floor price has been set at Rs 1,161, and the sale of 16.12 per cent stake could fetch the government around Rs 5,334 crore. The offer would open for retail investors on Wednesday.
Tata Communications Q3 results: Profit jumps over 5-fold to Rs 309 crore on lower costs
Tata Communications Q3 results: Consolidated revenue from operations was marginally down by 0.1 per cent YoY to Rs 4,222.83 crore in Q3 FY21, as drop in voice business offset growth in data business
BusinessToday.In | January 19, 2021 | Updated 20:56 IST
Tata Communications profit soars 426% to Rs 309.41 crore in December quarter
Tata Communications, a part of Tata Group, on Tuesday reported 425.76 per cent year-on-year growth in consolidated profit after tax (PAT) at Rs 309.41 crore for the third quarter ended December 31, 2020, compared to Rs 58.85 crore in the same period last year. The surge in profit was attributed to cost efficiencies and improved business processes as well as higher deferred tax credits during the quarter under review.
Rakesh Jhunjhunwala Buys 1 12% Stake In Tata Communications In Q3FY21 moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
Rakesh Jhunjhunwala buys stake in this Tata Group firm, stock zooms 10%
Following the news, the stock of Tata Communications opened higher at Rs 1,076 against its previous close of Rs 1062.55 today
BusinessToday.In | January 12, 2021 | Updated 18:21 IST
Overall, public investors held 25.01% stake in the company by the end of Q3FY21
Tata Communications share price gained 10% on Tuesday after data filed with stock exchanges showed that Rakesh Jhunjhunwala bought shares of the fimr in December quarter of FY21.
Data available with BSE showed that Jhunjhunwala s wife Rekha Jhunjhunwala held 32,00,687 shares or a 1.12% stake in Tata Communications at the end of Q3FY21.