Buzzing stock: Tata Communications gains more than 12 per cent
On Tuesday, the shares of Tata Communications jumped by more than 12 per cent after the company announced its tie-up with Google.
Tata Communications is set to partner with Google Cloud to drive cloud transformation in India. This partnership will benefit organisations by deploying and access Google Cloud services via Tata Communications’ IZO Managed Cloud, which will further lend support and provide ease-of-use coupled with end-to-end services. These services would also include cloud architecture planning, workload migration, and ongoing operational support.
Recently, Tata Communications recorded over a five-fold jump in its net profit to Rs 310.35 crore for Q3FY21 compared to Rs 57.60 crore reported in Q3FY20.
The company's stock has declined by 3.21 per cent in the last one month while it has more than tripled in the last one year.
On Tuesday, the stock of the company was seen trading at Rs 1,118.15 per share, up by 12.38 per cent or Rs 123.2 per share. The 52-week high is Rs 1,168.80 while its 52-week low is Rs 205.70 on BSE.