Upper circuit stock: Tata Communications continues upward surge
The shares of Tata Communications have been locked at five per cent upper circuit. The stock is locked near the 52-week high of Rs 937 on BSE.
Meanwhile, it has recovered by 360.73 per cent from its sharp decline in March 2020.
The company’s consolidated profit in Q2FY21 has been increased by 608.54 per cent to Rs 384.81 crore while it had reported a consolidated profit of Rs 54.31 crore in Q1FY20.
Tata Communications provides telecommunication services under two segments, one is voice solutions and the other is data & managed services.
On a YTD basis, the stock has gained by 131.62 per cent. According to BSE data, the stock is traded at a price-to-book ratio of 2.88.
At 12.14 pm today, the stock of the company locked at Rs 921.45, up by 5 per cent or Rs 43.85 per share.