InvestorQ : Why has the stock of Tata Communications rallied so sharply in the last few weeks?
Khushi Patel made post

Why has the stock of Tata Communications rallied so sharply in the last few weeks?

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Anjana Aiyar answered.
3 months ago
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Tata Communication has been in the midst of a frenetic rally. The stock is already at a 2-year high. In the last 3 months itself, the stock has rallied close to 113%. Even on 14 July, the stock of Tata Communications was up on the 5% circuit at Rs.700 on the BSE. This has been largely driven by a strong operating performance delivered by TCOM.

For the Mar-20 quarter, Tata Communications reported EBITDA 26.8% higher at Rs.869 crore. At the same time, the EBITDA margins expanded by nearly 360 basis points at 19.8%. The sharp growth was driven by strong performance of traditional and growth services in the midst of a sharp uptick in usage due to COVID-19 pandemic and resultant lockdown.

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