Tata Communications zooms on reporting 13-fold jump in Q3 consolidated net profit
Tata Communications is currently trading at Rs 702.90, up by 30.60 points or 4.55% from its previous closing of Rs 672.30 on the BSE.The scrip opened at Rs. 685.00 and has touched a high and low of Rs. 705.00 and Rs. 672.20 respectively. So far 90562 shares were traded on the counter.
The group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 705.00 on 24-Jan-2017 and a 52 week low of Rs. 325.70 on 29-Feb-2016.Last one week high and low of the scrip stood at Rs. 705.00 and Rs. 664.00 respectively. The current market cap of the company is Rs. 20008.43 crore.
The promoters holding in the company stood at 74.99%, while Institutions and Non-Institutions held 20.15% and 4.86% respectively. Tata Communications has reported a net profit of Rs 1482.71 crore for the quarter ended December 31, 2016, as compared to a net loss of Rs 11.58 crore for the same quarter in the previous year. Total income of the company increased by 37.68% at Rs 1482.57 crore for the quarter under review as compared Rs 1076.81 crore for the corresponding quarter previous year.
On the consolidated basis, the company has around 13-fold jump in its net profit from total operations at Rs 1412.88 crore for the quarter ended December 31, 2016 as compared to Rs 110.74 crore for the same quarter in the previous year. However, total income of the company decreased by 3.17% to Rs 4450.92 crore for quarter under review from Rs 4596.85 crore for the quarter ended December 31, 2015.
Technical levels for Tata Communication
Support at 665 and Resistance at 705—710
Looks positive and could test its resistance level of 705—710…..further upside rally will see if closes above 710, else could touch its support level of 665.
Looks weak only if close below 665.00
