Friday, 1 March 2013

Tata Communications strengthens on selling 1.5-acre property in Chennai

Tata Communications is currently trading at Rs. 224.00, up by 1.05 points or 0.47% from its previous closing of Rs. 222.95 on the BSE
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The scrip opened at Rs. 224.00 and has touched a high and low of Rs. 224.10 and Rs. 222.00 respectively. So far 2265 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 266.35 on 26-Jul-2012 and a 52 week low of Rs. 190.65 on 22-May-2012.
Last one week high and low of the scrip stood at Rs. 248.40 and Rs. 218.10 respectively. The current market cap of the company is Rs. 6384.00 crore.

The promoters holding in the company stood at 76.15% while Institutions and Non-Institutions held 14.65% and 3.65% respectively.

Tata Communications, a leading provider of A New World of Communications has sold a 1.5-acre property in Chennai for Rs 195 crore to VGN Group, a real estate developer. This transaction is expected to complete by February 30, 2013. This property had apartment blocks for Tata Communications’ employees. 

The entity has sold this property with price at about Rs 7.5 crore a ground – about 2,400 sq. ft, a common measure used in Chennai - for the 26-ground property. The property is situated in Nungambakkam, in central Chennai, which is one of the premium localities with thriving residential and commercial development. 

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