Shares of Tata Communications jumped on strong EBITDA growth. The stock jumped as much as 4.6 per cent, its biggest intraday percentage gain since June 9.
The company had reported a 22 per cent lower June-quarter consolidated profit on Monday. However, EBITDA grew 12.6 per cent QoQ on the back of growth in data services and lower operating costs
“EBITDA performance was better than expected and investors are now looking forward to the conference call with optimism on outlook details,” said Manoj Behera from PhillipCapital (India) Pvt Ltd.
Up to Monday's close, the stock had risen 3.2 per cent this year.