Tata Comm surges on signing agreement with ICT company

Telecom major Tata Communications has signed a partnership agreement with Kenya’s first publicly listed ICT company, Access Kenya Group to establish a Tier I internet Point-of-Presence (PoP) for the former in Nairobi. The scrip is currently trading at Rs 489.90, up by 5.25 point or 1.08% on the BSE.

The stock opened at Rs 491.10 as compared to its previous close of Rs 484.65. Intraday, the counter touched a high and a low of Rs 494 and Rs 487 respectively.

So far, 10,372 shares of the company were traded on the BSE.

The stock touched its 52-week high of Rs 651 on May 19, 2009 and a 52-week low of Rs 320 on October 27, 2008.

The scrip has gained by 0.40% since the past one week and by  2.46% since the last one month.

This PoP will help the company to offer internet and other service providers access to one of the most dynamically routed and high performance global IP networks and service delivery.

Tata Communications is the leading global internet connectivity provider to local carriers, service providers and mobile operators out of Kenya.

The IP PoP will be configured in such a way to automatically offer redundant paths for internet traffic going north towards Europe and southwards to South Africa as well as to Asia and India over the SEACOM cable system.

Apart from this, the customers of Kenya PoP will also be able to benefit from the higher speeds and direct links offered by the new connection.