Shares of Tata Communications Ltd fell as much as much as 3.28 per centt to Rs 540.65, their lowest since February 26.
The company's March-quarter loss widened to Rs 198 crore ($28.34 million) from Rs 120 crore in the year-ago period.
More than 5,00,000 shares changed hands in fifteen minutes of trade, 2.3 times their 30-day moving average of 2,18,455.
The stock has price/sales ratio of 0.97 versus the sector average of 0.34. Up to Wednesday's close, the stock had risen 6.6 per cent.