Thursday 25 July 2013

Tata Communications inches up as its arm plan to introduce 200 white ATMs by September end

Tata Communications is currently trading at Rs. 161.70, up by 1.00 points or 0.62% from its previous closing of Rs. 160.70 on the BSE.

The scrip opened at Rs. 160.00 and has touched a high and low of Rs. 162.40 and Rs. 156.60 respectively. So far 10, 48,000 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. 148.30 on 27-Jun-2013.

Last one week high and low of the scrip stood at Rs. 170.60 and Rs. 160.00 respectively. The current market cap of the company is Rs. 4,608 crore.

The promoters holding in the company stood at 74.99% while Institutions and Non-Institutions held 16.64% and 4.44% respectively.

Tata Communications’ wholly owned subsidiary - Tata Communications Payment Solutions is planning to introduce 200 white ATMs under the Indicash label across Maharashtra by September end. These white-label ATM’s are owned and operated by a non-banking entity and can be used for financial transactions by customers of any bank. It has decided to establish up to 15,000 such machines across India in the next three years.

The company has inaugurated the flagship white-label ATM in India at Chandrapada village in the Thane district of Maharashtra on June 27. Maharashtra has 127 ATMs/million people against 172 ATMs/million in Tamil Nadu.

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