Why Tata Communications share fell 8% despite five-fold rise in Q3 profit
Tata Communications stock touched an intraday low of Rs 1,040, falling 7.96% against previous close of Rs 1,129.95 on BSE
BusinessToday.In | January 20, 2021 | Updated 11:12 IST
Tata Communications share opened with a loss of 4.69% today at Rs 1076.95 on BSE.
Tata Communications share fell nearly 8% in early trade today despite the Tata Group firm reporting a five- fold rise in Q3 profit. The slide in the stock can be attributed to reports that government will sell its entire 26.12% stake in Tata Communications through an offer for sale and strategic sale route in the current fiscal.