Tata Communications share price ends with 8% gains. Do you own it?

Stock Market Today: Tata Communications Ltd share price ended the trading session on Tuesday with gains of more than 8%.

The Tata Communications share price price opened at ₹1361.05 on the BSE on Tuesday. At the opening Tata Communications share price was slightly lower than the previous days closing price of ₹1372.40 amidst weak markets. The Tata Communications share price thereafter saw sharp and smart gains as it skyrocketed to intraday highs of ₹1500. The Tata Communications share price thereafter while saw gains of more than 8% it continued  to traded close to these levels despite weak and volatile markets. Tata Communications share price ended the day very near the intraday highs and with gains of close to 8% despite weak markets on the back of US slow down concerns and weak global cues. The benchmark indices had corrected nearly 0.5% on Tuesdays, before they saw recovery and ended nearly flat

The Tata Communications share price though may have corrected significantly from 52 week or 1 year highs of ₹2175 seen in October 2024. However Tata Communications share price has been rebounding and has gained more than 13 percent in 5 trading sessions

Tata Communications Developments

The Tata Communications Ltd on 28 February had announced the Update on Agreement for sale of subsidiary. Tata Comminutions had informed the Exchanges about entering into a Share Purchase Agreement dated November 13, 2024 with Transaction Solutions International (India) Private Limited for sale of Tata Communications Limited’s entire stake in its wholly-owned subsidiary Tata Communications Payment Solutions Limited (“TCPSL”), subject to satisfactory completion of the conditions precedent as stipulated under the Share purchase agreement and regulatory and other approvals f

Tata Communications informed that the transaction is deemed complete and effective February 28, 2025, TCPSL has ceased to be a subsidiary of Tata Communications Limited

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.