Tata Communication shares surged to 52-week high on fundraising plan

Tata Communications is the leading global digital ecosystem enabler. It has a leadership position in emerging markets, and an infrastructure that spans the globe. It delivers managed solutions to multinational companies and service providers. It partners with 300 of the Fortune 500 companies with their state-of the-art solutions, including a wide range of communication, collaboration, cloud, mobility, connected solutions, network and data center services. 

Today shares of company has surged and hit fresh 52 week high after plans to raise funds and launched global cloud based 5G Roaming Lab. Company is planning to raise Rs 1750 crore through issuance of 1,75,000 Rated, Unsecured, Redeemable, Rated, Listed, Non-Convertible Debentures (NCDs) having face value of Rs 1 lakh each. The date of maturity of the said NCDs will be 3 years from the deemed date of allotment. Deemed Date of allotment is on August 29, 2023. 

Tata Communications has launched its cloud-based 5G Roaming Laboratory, allowing Mobile Network Operators (MNOs) to test 5G standalone network use cases before introducing the service to subscribers. The lab closely monitors traffic movement and network usage, providing an objective performance assessment across networks. It also includes onboarding and internet trials on the high-speed, high-reliable, and low-latency 5G standalone network. 

Yesterday the script was closed at Rs 1781.85 and today it was opened at Rs 1794.20 and closed at Rs 1820, up by 2.14%. Today it has hit fresh 52 week high at Rs 1831.95 and it has 52 week low of Rs 1095.05. Company has market capitalisation of around Rs 51,850 crore. Over the past 6 months shares of company has given staggering return of 50.76% and in last one year it has given return of 55.10%. In last 5 years company has given return of 438.65%. 

The promoters holding in the company stood at 58.86%, while Institutions and Non-Institutions held 31.25% and 9.88% respectively. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.