Shares of Tata Communications, Yes Bank and Reliance Power gained sharply in Friday’s trade amid heavy volumes on the exchanges.
Tata Communications rose over 14 percent to an intraday high of Rs 1,938.90 apiece on the NSE. The stock has been on an upward trend for the past six sessions, advancing nearly 20 percent during the period.
As many as 35.86 lakh shares of the company changed hands, generating a turnover of Rs 657.42 crore. The large-cap firm’s market capitalisation stood at Rs 53,722.50 crore, according to NSE data. On the BSE, around 3 lakh shares were traded till 11:45 a.m., the highest volume in nearly two months. The traded quantity was also above the 20-day average of 65,000 shares. The stock turned positive for the year after a 4 percent decline in 2024.
The sharp rise in the company’s stock was driven by expectations that it could benefit from owning a large parcel of land reportedly being considered by Tata Consultancy Services (TCS) for the development of a data centre in India.
TCS also reaffirmed its commitment to making substantial investments in digital transformation. According to Piyush Pandey, Senior Vice President at Centrum Broking, Tata Communications is likely to receive a portion of the work related to this data centre project — a development that would be positive for the company, he told Informist.
Yes Bank shares climbed 8.39 percent to hit a fresh 52-week high of Rs 24.30 on the NSE. The counter has gained for two consecutive sessions, rising about 8 percent in this period. The stock is heading for its best weekly performance since May.
Over 18 crore shares of Yes Bank changed hands during the day, far exceeding the 20-day average volume of 3.2 crore shares. The stock traded above the SMBC price deal of Rs 21.50. It has advanced 22 percent so far in 2025, after falling 9 percent in 2024.
Shares of Reliance Power also surged over 14 percent to Rs 50.73 on the NSE.
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