Tata Communications, a subsidiary of the Tata Group, witnessed a surge of almost 3% in its shares, marking a 52-week high at Rs 1,831.90 on August 23. This rally was spurred by the company’s announcement of the launch of a groundbreaking global cloud-based 5G roaming laboratory. Designed to facilitate the testing of Proof of Concepts (POCs), this 5G lab provides a crucial platform for mobile network operators, enabling them to validate and refine their 5G services prior to their official launch.
Share Surge and 52-Week High
In a parallel development, Tata Communications declared its intention to generate capital through the issuance of non-convertible debentures (NCDs) with a collective value of up to Rs 1,750 crore. Each NCD will carry a face value of Rs 1,00,000. The fund-raising will be executed through a private placement mechanism.
Innovative 5G Roaming Laboratory
The day concluded with Tata Communications’ shares settling at Rs 1,813, reflecting a 1.73% increase. Over the past month, the company’s shares have experienced an upward trajectory of approximately 11.67%. Impressively, since the commencement of this year, Tata Communications’ shares have demonstrated a remarkable gain of about 37.60%.
Capital Generation Plan
Mysore Madhusudan, Executive Vice President of Collaboration and Connected Solutions at Tata Communications, expressed enthusiasm about the new 5G roaming lab, emphasizing the paramount role of connectivity in the contemporary digital landscape. This launch reaffirms the company’s position as a global player in mobile roaming services, having delivered 2G/3G/4G roaming signaling services across more than 200 countries.