TATACOMM

** Shares of Tata Communications TATA.NS jump 10% to 1,865 rupees, their biggest pct gain in five years

** At highest level since October, 2024

** More than 285,000 shares traded in seven block deals in the 1,849.8-1,912.1 rupee price range, a premium compared to previous close of 1696.80 rupees - LSEG data

** TATA rises for a sixth straight session, gaining 16.5% in the period

** More than 13 mln shares traded as of 2:50 p.m. IST, 44x their 30-day avg

** Including session's gains, stock up 11% YTD

(Reporting by Nishit Navin in Bengaluru)

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Sept 29 (Reuters) - Tata Communications Ltd TATA.NS:

• TO POWER INDIA'S GST ECOSYSTEM WITH DIGITAL SOLUTIONS

• AWARDED PROJECT FOR DIGITAL INFRASTRUCTURE

Source text: ID:nBSE8y856B

Further company coverage: TATA.NS

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** Shares of Tata Communications TATA.NS rise 2% to 1704.50 rupees apiece

** Macquarie reiterates "Outperform", saying that TATA will be a key beneficiary of the surge in data consumption, enterprise migration to cloud and data localization

"As TATA's digital portfolio achieves further scale, we see a sharp turnaround in profitability and return on invested capital (ROIC) over the next three years," Macquarie analysts Aditya Suresh and Baiju Joshi say

** Macquarie's price target on TATA is 2,210 rupees, Street high, implying an upside of 32.4% over the last close

** The average rating of eight analysts tracking TATA is "Buy"; the median price target is 2000 rupees, data compiled by LSEG shows

** TATA shares are down 2% in 2025 so far, underperforming the 2.6% rise in Nifty midcap 100 index .NIFMDCP100, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

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Aug 25 (Reuters) - Tata Communications Ltd TATA.NS:

• ISSUES 7 BILLION RUPEES COMMERCIAL PAPER

Source text: ID:nBSE7gHWF9

Further company coverage: TATA.NS

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By Sudarshan Varadhan and Sethuraman N R

SINGAPORE/NEW DELHI, Aug 19 (Reuters) - India is curbing solar output during periods of low demand to keep its power grid stable and to ease congestion in power lines as green energy supply rises, its Ministry of New and Renewable Energy (MNRE) told Reuters.

Congestion in power lines due to some new plants coming into operation ahead of schedule and delayed transmission projects have also forced power output curbs, also known as curtailment, the MNRE said in an emailed response to questions late on Monday.

The curtailments are the latest setback to India's renewable power developers, who are increasingly languishing without supply contracts as demand for power slows.

The National Solar Energy Federation of India (NSEFI) said in a July 24 letter to the ministry that solar power producers in Rajasthan, the top green power producing state, were facing prolonged and frequent curtailments, which had risen to 48% of output during peak generation hours.

The producers have lost more than $26 million in revenue since April due to the curbs, NSEFI said in the letter reviewed by Reuters.

NSEFI, whose members include the green energy arms of Indian conglomerates Adani ADNA.NS and Tata TTPW.NS, Amazon Web Services AMZN.O, Dutch investment firm SHV and Malaysia's Gentari, said curtailments undermined project viability and future investments.

"Projects in the state had been deferred by 18-20 months to accommodate for the delays in the transmission system, but are still unable to be commissioned due to even further delays," NSEFI said.

NSEFI has asked the government to accelerate transmission and battery storage projects, some of which face up to two years of delay. The federal power ministry has said it is fast-tracking interstate transmission lines to support renewable energy.

BEYOND RAJASTHAN

While Rajasthan is the worst affected by curtailments, other major green energy producers such as the southern Tamil Nadu state, and Gujarat and Maharashtra in the west are also curbing output, according to four industry officials and analysts.

Data compiled by Tamil Nadu's Renewable Energy Producers Association showed solar output was 10% lower than forecast in the quarter ended June.

J Radhakrishnan, a spokesman for the Tamil Nadu energy department said solar was being curbed as a "last resort" measure, and that coal power was also being curtailed amid low demand.

India's renewable energy generation, mainly solar, rose at a record pace in the six months ended June as previously awarded projects came online, while overall power generation growth was largely flat compared with an increase of nearly 6% in 2024.

However, solar projects awarded in the three months ended June fell 75% annually and tenders for new projects declined 65%, according to clean energy consultancy Mercom.

The decline reflects a "temporary recalibration rather than a slowdown," MNRE said, adding that bids were being issued in line with national targets and demand.

Government data shows the usage rate of solar capacity fell to 21.4% in May and 19.5% in June. The MNRE said some of it was due to lower irradiance, adding it expected capacity utilisation of 21%–25% range from February to June in the future.

(Reporting by Sudarshan Varadhan in Singapore and Sethuraman N R in New Delhi; Editing by Florence Tan and Kate Mayberry)

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MUMBAI, Aug 6 (Reuters) - India's Tata Communications TATA.NS accepted bids worth 10 billion rupees ($114.02 million) for bonds maturing in three years, three bankers said on Wednesday.

The company will pay an annual coupon of 6.77% on this issue, and had invited commitment bids for the issue earlier in the day, they said.

On July 24, Reuters reported that the company is looking to make a comeback after a gap of two years with a three-year bond issue.

The company did not respond to a Reuters request for comment.

Here is the list of deals reported so far on August 6:

*Size includes base plus greenshoe for some issues

($1 = 87.7020 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Janane Venkatraman)

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MUMBAI, Aug 5 (Reuters) - India's Tata Communications TATA.NS plans to raise 10 billion rupees ($113.90 million) through the sale of bonds maturing in three years, three bankers said on Tuesday.

The company will pay an annual coupon of 6.77% on this issue, and has invited commitment bids for the issue on Wednesday, they said.

On July 24, Reuters had reported that the company is looking to make a comeback after a gap of two years with a three-year bond issue.

The company did not respond to a Reuters request for comment.

Here is the list of deals reported so far on August 5:

*Size includes base plus greenshoe for some issues.

($1 = 87.7990 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)

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By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, July 24 (Reuters) - Two firms of Indian conglomerate Tata Group are planning to raise around 20 billion rupees ($231.5 million) through the sale of bonds over the next few days, three bankers said this week.

Tata Power Renewable Energy, a subsidiary of Tata Power TTPW.NS, is likely to raise around 10 billion rupees through the sale of 10-year bonds, while Tata Communications TATA.NS could raise a similar amount through three-year notes, the bankers said.

The bankers requested anonymity as they are not authorised to speak to media.

The companies did not respond to a Reuters email seeking comment.

"Mutual funds would be buying the Tata Communications issue in most cases, while insurers are expected to line up for the renewable energy company issue," one of the bankers said.

Tata Communications would be tapping the corporate debt market after a gap of nearly two years and is in talks with foreign banks to manage the issue. Its notes are rated AAA by CARE Ratings.

In August 2023, the company raised 17.50 billion rupees through three-year bonds at an annual coupon of 7.75%.

The pricing for the planned issue should be around 100 basis points cheaper, two of three bankers said.

Meanwhile, Tata Power Renewable would be tapping the market for the second time this financial year. It raised 10 billion rupees through 15-year bonds at a coupon of 7.55% in April.

Tata Power Renewable's notes are rated AA+ by rating agencies. The firm has 53 billion rupees worth of bonds outstanding.

($1 = 86.3920 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

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July 22 (Reuters) - Tata Communications Ltd TATA.NS:

• CO AND AWS TO ENABLE AI NETWORK IN INDIA

• COLLABORATION TO ESTABLISH HIGH-CAPACITY NETWORK CONNECTING AWS LOCATIONS

Source text: ID:nBSE7CWK2H

Further company coverage: TATA.NS

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** Tata Communications TATA.NS rises 3.8% to 1,797 rupees

** CLSA maintains "outperform"; keeps PT at 2,100 rupees, citing strong digital services growth and stable EBITDA margins

** Expects 10%–15% CAGR in data revenue, consolidated EBITDA by FY28, led by digital services

** Macquarie maintains "outperform", citing benefits from global data consumption, enterprise cloud migration, data localisation

** Says execution risks remain, but transformation into digital-first company seen as a long-term driver

** Telecom and digital services provider posts 6.4% y/y rise in Q1 consol income

** Stock rated "buy" on average; median PT is 2,000 rupees, per data compiled by LSEG

** TATA gains 5.4% YTD

(Reporting by Rudra Pratap Singh in Bengaluru)

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July 17 (Reuters) - Tata Communications Ltd TATA.NS:

• Q1 CONSOL NET PROFIT 1.9 BILLION RUPEES

• Q1 CONSOL INCOME FROM OPERATIONS 59.6 BILLION RUPEES

• TO RAISE OF FUNDS VIA NCDS ON PRIVATE PLACEMENT BASIS, UP TO 10 BILLION RUPEES

• TO ACQUIRE UNIT SOLUTIONS INFINI TECHNOLOGIES (INDIA) FOR 1.24 BLN RUPEES

Source text: [ID:]

Further company coverage: TATA.NS

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** India's Tata Communications TATA.NS jumps ~4.7% to more than six-month high of 1,807.50 rupees

** Stock rises for seventh consecutive session

** Macquarie Equity Research initiates coverage with "outperform" rating, PT of 2,300 rupees

** Says Co's improved breadth of offerings yielding larger and longer-term deal wins

** "We see a bull-case path for the shares to double over three years," brokerage says

** Adds that TATA's superior positioning and optionality warrants premium multiple over Bharti Airtel's BRTI.NS enterprise division

** More than 3.5 million shares traded on the day, ~8x six-month average volume

(Reporting by Vivek Kumar M)

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By Aditya Kalra and Munsif Vengattil

NEW DELHI, June 13 (Reuters) - Nearly all the iPhones exported by Foxconn from India went to the United States between March and May, customs data showed, far above the 2024 average of 50% and a clear sign of Apple's efforts to bypass high U.S. tariffs imposed on China.

The numbers, being reported by Reuters for the first time, show Apple has realigned its India exports to almost exclusively serve the U.S. market, when previously the devices were more widely distributed to countries including the Netherlands, the Czech Republic and Britain.

During March-May, Foxconn exported iPhones worth $3.2 billion from India, with an average 97% shipped to the United States, compared to a 2024 average of 50.3%, according to commercially available customs data seen by Reuters.

India iPhone shipments by Foxconn to the United States in May 2025 were worth nearly $1 billion, the second-highest ever after the record $1.3 billion worth of devices shipped in March, the data showed.

Apple and Foxconn did not respond to Reuters requests for comment.

U.S. President Donald Trump on Wednesday said China will face 55% tariffs after the two countries agreed on a plan, subject to both leaders' approval, to ease levies that had reached triple digits.

India is subject, like most U.S trading partners, to a baseline 10% tariff and is trying to negotiate an agreement to avert a 26% "reciprocal" levy that Trump announced and then paused in April.

Apple's increased production in India drew a strong rebuke from Trump in May. "We are not interested in you building in India, India can take care of themselves, they are doing very well, we want you to build here," Trump recalled telling CEO Tim Cook.

In the first five months of this year, Foxconn has already sent iPhones worth $4.4 billion to the U.S. from India, compared to $3.7 billion in the whole of 2024.

Apple has been taking steps to speed up production from India to bypass tariffs, which would make phones shipped from China to the U.S. much more expensive. In March, it chartered planes to transport iPhone 13, 14, 16 and 16e models worth roughly $2 billion to the United States.

Apple has also lobbied Indian airport authorities to cut the time needed to clear customs at Chennai airport in the southern state of Tamil Nadu from 30 hours to six hours, Reuters has reported. The airport is a key hub for iPhone exports.

"We expect made-in-India iPhones to account for 25% to 30% of global iPhone shipments in 2025, as compared to 18% in 2024," said Prachir Singh, senior analyst at Counterpoint Research.

Tata Electronics, the other smaller Apple iPhone supplier in India, on average shipped nearly 86% of its iPhone production to the U.S. during March and April, customs data showed. Its May data was not available.

The company, part of India's Tata Group, started exporting iPhones only in July 2024, and only 52% of its shipments went to U.S. during 2024, the data showed.

Tata declined to comment on the numbers.

Indian Prime Minister Narendra Modi has in recent years promoted India as a smartphone manufacturing hub, but high duties on importing mobile phone components compared to many other countries means it is still expensive to produce the devices in India.

Apple has historically sold more than 60 million iPhones in the U.S. each year, with roughly 80% made in China.

(Reporting by Aditya Kalra and Munsif Vengattil; Editing by Kate Mayberry)

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By Munsif Vengattil

BENGALURU, June 5 (Reuters) - Apple has brought in Tata Group to handle repairs for iPhones and MacBook devices in its fast-growing Indian market, signalling the Indian conglomerate's deepening role in the U.S. tech giant's supply chain, two people familiar with the matter said.

As Apple AAPL.O looks beyond China for manufacturing, Tata has fast emerged as its key supplier and already assembles iPhones for local and foreign markets at three facilities in south India, with one of them also making some iPhone components.

In its latest partnership expansion, Tata is taking over the mandate from an Indian unit of Taiwan's Wistron, ICT Service Management Solutions, and will carry out such after-sales repairs from its Karnataka iPhone assembly campus, both sources said.

The market for repairs is only going to boom in India, the world's second-biggest smartphone market, as iPhone sales skyrocket. Counterpoint Research estimates around 11 million iPhones were sold in India last year, giving Apple a 7% market share, compared to just 1% in 2020.

The latest contract award signals Apple's growing confidence on Tata as it hopes to win more business from the world's most valuable smartphone company.

"Tata's deepening partnership with Apple could also pave the groundwork for Apple directly selling refurbished devices in India, like how it does in the United States currently," said Prabhu Ram, a vice president at Cybermedia Research.

The takeover from ICT by Tata is currently ongoing, both sources said, who declined to be named as they were not authorized to speak on the matter.

Apple and Wistron did not respond to requests for comment, while a spokesperson for Tata declined to comment.

While Apple's official service centres across India can do basic repairs, they would now ship phones and laptops to Tata's facility for more complex issues.

Wistron's ICT however will continue to service other clients excluding Apple, one of the sources said.

Amid an impending threat of U.S. President Donald Trump's tariffs on China, India is also emerging as a favoured destination for iPhone exports. Apple CEO Tim Cook has said the bulk of iPhones sold in the United States during June quarter will be made at factories in India.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Aditya Kalra and David Evans)

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April 22 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS Q4 CONSOL NET PROFIT 10.40 BILLION RUPEES

• TATA COMMUNICATIONS Q4 CONSOL INCOME FROM OPERATIONS 59.90 BILLION RUPEES

• TATA COMMUNICATIONS LTD - DIVIDEND OF 25 RUPEES PER SHARE

Source text: ID:nBSE4RgXs2

Further company coverage: TATA.NS

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April 2 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS LTD - TC NETHERLANDS APPROVES SHARE REPURCHASE OF €16,718,000

• TATA COMMUNICATIONS LTD - TC NETHERLANDS TO TRANSFER $88,774,518 TO TC SINGAPORE

Source text: ID:nBSEbtpPWt

Further company coverage: TATA.NS

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March 20 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS - LAUNCHES TATA COMMUNICATIONS VAYU

Source text: ID:nBSE5Km5ZL

Further company coverage: TATA.NS

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** Tata Communications TATA.NS rises 5% to one-month high of 1,577.75 rupees

** JM Financial initiates with "buy", PT of 2,030 rupees

** Says co gradually transforming into communication tech player by expanding digital portfolio, integrating connectivity with digital services and offering customised and high-value solutions

** Expects data segment EBITDA to grow at compounded rate of 21% over FY24-FY28

** More than 750,000 shares traded, ~2x the six-month avg

** Stock rated "hold" on avg; median PT 1,850 rupees - per data compiled by LSEG

** ICICI Securities double upgraded TATA to "buy" last week on compelling risk-reward after recent drop

** Stock up 17% so far in March, trimming YTD losses to 7%

(Reporting by Vivek Kumar M)

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March 14 (Reuters) - Tata Communications Ltd TATA.NS:

• APPOINTED N. GANAPATHY SUBRAMANIAM AS CHAIRMAN OF BOARD

Source text: ID:nBSE4zfK4s

Further company coverage: TATA.NS

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** Telecommunication services provider Tata Communications' TATA.NS shares rise 8.3% in biggest one-day gain since July 2022, to 1,488.70 rupees

** ICICI Securities double upgrades stock to "buy" from "hold"; raises PT to 1,840 rupees from 1,690 rupees

** Sees strong pile-up of potential deals for co; previously muted order book shows early signs of growth

** Says with Red Sea cable cut issue now behind and double-digit FY25-YTD order book growth, co's data revenue growth will likely swell

** Adds, co also to benefit from adoption of cloud systems and AI

** Avg rating of six analysts, including ICICI, is a "hold"; their median PT is 1850 rupees - data compiled by LSEG

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of Findi FND.AX rise 14.6% to A$4.96, while the broader benchmark index .AXJO was down 1.8%

** Stock hit highest level since Jan. 21

** The financial technology provider says the Reserve Bank of India approves acquisition of Tata Communications' unit, Tata Communications Payment Solutions or Indicash

** Stock down 8.5% this year as of last close

(Reporting by Sherin Sunny in Bengaluru)

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Jan 22 (Reuters) - India's Tata Communications TATA.NS reported a 3.5% rise in its third-quarter profit on Wednesday, helped by steady demand for its data services.

The firm's consolidated profit before exceptional items and taxes rose to 3.86 billion rupees ($44.71 million) for the three months ended Dec. 31, from 3.73 billion rupees a year ago.

Tata Communications provides services such as data connections and cybersecurity to enterprises.

The company has been focusing on growing its revenue over margins, partly through acquisitions over the past few quarters, as it seeks to grab a bigger share of the highly competitive market for cloud, networking services, media and entertainment.

It posted a nearly 7% fall in profit before exceptional items in the quarter ended Sept. 30.

Revenue from Tata Communications' mainstay data services business - which contributes more than 80% to the total - rose 6.3%.

The company said it aims to hit a revenue of 280 billion rupees in the segment in fiscal 2027 from 178.98 billion rupees in fiscal 2024.

Overall revenue rose 3.8% to 57.98 billion rupees.

Expenses rose 4.2% due to a 10.4% jump in the company's network and transmission-related spending.

Tata Communications approved an investment of $88.8 million in its unit Tata Communications (Netherlands) B.V., it said in its statement.

"Over and above the divestiture of our payment solutions business, we continue to pursue other monetisation opportunities and strategic evaluation of assets," CFO Kabir Ahmed Shakir said.

The company's shares closed 1.1% lower after the results.

($1 = 86.3370 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru; Editing by Janane Venkatraman)

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** Tata Communications TATA.NS rises as much as 4.6% to 1,706.65 rupees

** IT services provider says Jaguar Land Rover Automotive (JLR), owned by Tata Motors TAMO.NS, extends existing partnership with co by using MOVE platform for JLR'S new SUVs

** Adds MOVE will help JLR customers transition between mobile networks and operators for media streaming, software updates

** Stock rated "hold" on avg; median PT is 1,858 rupees - LSEG

** TATA fell 3.8% in 2024

(Reporting by Meenakshi Maidas in Bengaluru)

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Dec 23 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS - ISSUED, ALLOTTED COMMERCIAL PAPER OF UPTO 4.85 BILLION RUPEES

Source text: ID:nBSEpfpJh

Further company coverage: TATA.NS

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HANOI, Dec 19 (Reuters) - Vietnamese military-run telecom company Viettel on Thursday said the Asia Direct Cable (ADC), a new submarine cable, was ready to operate commercially.

Investors in the project, which spans 10,000 km (6,210 miles) with an initial capacity of over 160 Tbps, include Viettel, Softbank, China Telecom Global, China Telecom Corporation, China Unicom, Singtel, TATA Communications, National Telecom and PLDT, Viettel Solutions, a unit of Viettel, said in a statement
Japan's NEC is the contractor of the project, it said.

(Reporting by Phuong Nguyen; Editing by John Mair)

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Dec 18 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS - ISSUES, ALLOTS 2.50 BILLION RUPEES COMMERCIAL PAPER

Source text: ID:nNSE8JFw9Q

Further company coverage: TATA.NS

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Dec 12 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS LTD - ANNOUNCES KALEYRA AI

Source text: ID:nBSE23gHjg

Further company coverage: TATA.NS

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Nov 15 (Reuters) - Shares of Australia-based Findi FND.AX jumped to a more than two-decade high on Friday, after the fintech services provider said it would acquire Tata Communications' TATA.NS payment solutions unit for A$75.7 million ($48.81 million).

The stock gained as much as 12.2% to A$7.65, its highest level since Sept. 13, 2002, while the benchmark ASX 200 index .AXJO was up 0.53%, as of 0050 GMT.

It has risen 14% in value so far this week and is poised for its best week since mid-October.

The acquisition of Tata Communications Payment Solutions will significantly expand Findi's ATM business, adding 4,600 ATMs and a White Label ATM platform with licence, the Australia-based firm said in a statement, adding that it planned to deploy 3,000 more ATMs.

Findi projects the acquisition to boost cash earnings immediately, forecasting an additional A$28 million-A$30 million in revenue and A$2 million-A$4 million in net profit after taxes within the first year of full ownership.

"The payments platform/switch will enable Findi to connect directly with all integrated payments devices like MicroATMs, biometric payment devices and UPI-based cash withdrawals," the company said.

The acquisition will be financed through existing resources, Findi said, adding that it was awaiting approval from the Reserve Bank of India.

($1 = 1.5509 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru; Editing by Subhranshu Sahu)

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Nov 13 (Reuters) - Tata Communications Ltd TATA.NS:

• ENTERED INTO AGREEMENT WITH TRANSACTION SOLUTIONS INTERNATIONAL (INDIA)

• AGREEMENT FOR SALE OF ENTIRE STAKE IN TATA COMMUNICATIONS PAYMENT SOLUTIONS

• DEAL FOR 3.3 BILLION RUPEES

Source text: ID:nBSE3XSSpw

Further company coverage: TATA.NS

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Oct 24 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS -TATA COMMUNICATIONS UNVEILS AI INFRASTRUCTURE WITH NVIDIA ACCELERATED COMPUTING

• TATA COMMUNICATIONS -FIRST PHASE TO BEGIN AT END OF THIS YEAR

• TATA COMMUNICATIONS - 2ND PHASE WILL EXPAND INFRASTRUCTURE WITH BLACKWELL GPUS

Further company coverage: TATA.NS

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