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Tata Comm share price falls by 6% – Big Bull Jhunjhunwala buys 1.12% stake

As per the BSE data, Jhunjhunwala purchased 32,00,687 equity shares in the quarter ended on December 2020. This is approximately 1.12 percent share of the company on an average.

Tata Communications reported a 4.52 percent decline on the BSE, which is Rs 1,078.05 down at Rs 51.00.

Currently the Tata shares are trading below its target of 52-week high at 7.76 percent. On its 52-week low, the shares are trading above at 424.09 percent.

The stock price has however dipped at 6 percent after Tata reported December’s quarterly results.

A total 19.6 percent fall in the consolidated profit was reported by the company.

Currently the company holds a total net profit of Rs 309.4 crores. The company is currently running at a net profit loss of Rs 75.4 crores. Number has declined at a bad rate as compared to the Rs 384.8 crores reported in September 2020 quarter.

However, the shares did hit Rs 1,168.8 crore in its 52-week high and Rs 205.70 crore in 52-week low as per January 20 2021.

Company has reported a profit loss of Rs 11.4 crore which was reportedly a one-time loss currently occurred.

Also, the revenue for the session was down at Rs 4,222.8 crore which shows a 4.1 % loss. Previously, this value was Rs 4,401.1 crores.

The company also incurred a loss of Rs 67.9 crores. This is the difference between Rs 8.2 crores and Rs 76.1 crore, which is also the part of other income element.

It is also reported that the Indian government is also stepping forward to sell the whole 26.12 percent stake in the organization. The government shall come up with an offer to sale with the strategic partner.


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