Tata Comm starts ringing

Tata Communications which opened weak at Rs.227.40, it now up at Rs.232.30, its intra day high point. Buyers outnumber sellers at this juncture.

The stock has bounced back sharply as soon as it announced that it has completed a sale transaction of the land parcel and building situated at Nungambakkam, Chennai, for a transaction value of Rs. 192.30 crore. This land parcel and building was earlier being used as a staff housing colony. The company has received the payment of entire amount. The above transaction is in line with the Company's objective of monetizing its non-core assets.