Tata Communications to invest between Rs130-160cr in cloud computing

India Infoline News Service | Mumbai | December 05, 2017 09:01 IST

The management sees size of Indian cloud computing market at Rs 9,600cr

Tata Communications
In a statement to the media, the management of Tata Communications stated that they plan to invest $20-25 milion (Rs 130 – 160 cr) in its cloud computing business by end of CY18.

According to the management, the size of the global market for cloud computing stands at $200bn and the domestic market stands at $1.5bn.

The management expects the domestic cloud computing market to grow between 30-32% CAGR over the next few years.

Cloud computing is a crucial new technology for IT and ITES companies. This development will not have an immediate impact on the stock but is a long term positive. 

The stock touched a 52 week high of Rs784 on 17-Mar-2017 and a 52 week low of Rs570.4 on 10-Aug-2017. Last one week high and low of the scrip stood at Rs698.7 and Rs663 respectively.


***Note: This is a NSE Chart

 

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