Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Tata Communications Limited    TATACOMM   INE151A01013

TATA COMMUNICATIONS LIMITED

(TATACOMM)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Tata Communications : India's Shapoorji Pallonji group to separate interests from Tata group

09/22/2020 | 11:52am EST

NEW DELHI, Sept 22 (Reuters) - India's Shapoorji Pallonji (SP) group, the largest minority shareholder in Tata Group, believes it is necessary to separate interests from the autos to steel conglomerate, it said on Tuesday.

One of the country's largest construction firms, the SP group has an 18% stake in Tata Sons, the holding company of the Tata Group, on the back of a decades-long relationship.

But the two groups have been embroiled in a legal battle since 2016 when Cyrus Mistry, scion of the family that controls the SP Group, was sacked as chairman of Tata Sons.

Mistry was sacked from the top job at the helm of the holding company after he fell out with group patriarch Ratan Tata over corporate governance issues at Tata group companies.

On Tuesday, India's Supreme Court restrained the SP group and Mistry from pledging or transferring shares of Tata Sons owned by them.

The Mistry family was looking to pledge the shares to raise funds to "meet the crisis arising from the global pandemic", the SP Group said in its statement, but had been challenged by the Tata Group.

"Today, it is with a heavy heart that the Mistry family believes that a separation of interests would best serve all stakeholder groups," the statement said.

Tata Sons did not immediately respond to questions from Reuters. (Reporting by Devjyot Ghoshal Editing by Rupam Jain, David Goodman and David Evans)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
SP GROUP A/S 1.70% 239 Delayed Quote.-2.89%
TATA COMMUNICATIONS LIMITED -0.82% 1061.55 Delayed Quote.169.63%
All news about TATA COMMUNICATIONS LIMITED
11/10TATA COMMUNICATIONS : De Tune selects Tata Communications to deliver live events..
PU
11/06Macron pitches France Inc as post-COVID-19 investment destination
RE
10/28MICRON TECHNOLOGY : and Tata Communications Accelerate IoT Deployment with Cloud..
AQ
10/27MICRON TECHNOLOGY : and Tata Communications Accelerate IoT Deployment With Cloud..
AQ
10/20TATA COMMUNICATIONS : appoints Kabir Ahmed Shakir as Chief Financial Officer
PU
09/22RATAN TATA : Shapoorji Pallonji group to separate interests from Tata group
RE
09/22TATA COMMUNICATIONS : India's Shapoorji Pallonji group to separate interests fro..
RE
08/20TATA COMMUNICATIONS LIMITED : Ex-dividend day for final dividend
FA
08/04TATA COMMUNICATIONS : launches ‘Secure Connected Digital Experience' to he..
PU
2019TATA COMMUNICATIONS LIMITED : Spin off
FA
More news
Financials
Sales 2021 178 B 2 404 M 2 404 M
Net income 2021 12 381 M 167 M 167 M
Net Debt 2021 93 576 M 1 265 M 1 265 M
P/E ratio 2021 27,1x
Yield 2021 0,41%
Capitalization 303 B 4 087 M 4 091 M
EV / Sales 2021 2,23x
EV / Sales 2022 2,01x
Nbr of Employees 12 107
Free-Float 23,4%
Chart TATA COMMUNICATIONS LIMITED
Duration : Period :
Tata Communications Limited Technical Analysis Chart | TATACOMM | INE151A01013 | MarketScreener
Technical analysis trends TATA COMMUNICATIONS LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 1 026,83 INR
Last Close Price 1 061,55 INR
Spread / Highest target 11,8%
Spread / Average Target -3,27%
Spread / Lowest Target -15,2%
EPS Revisions
Managers
NameTitle
Amur Swaminathan Lakshminarayanan Chief Executive Officer, MD & Director
Renuka Ramnath Chairman
Kabir Ahmed Shakir Chief Financial Officer
Genius Wong Chief Technology & Product Officer
Srinath Narasimhan Non-Independent Non-Executive Director
Sector and Competitors