TATACOMM

April 27 (Reuters) - Tata Communications Ltd TATA.NS:

• ISSUES AND ALLOTS COMMERCIAL PAPER OF 7.50 BILLION RUPEES

Source text: ID:nNSEbxtgyZ

Further company coverage: TATA.NS

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**Shares of Tata Communications TATA.NS rise as much as 2.61% to 1,554.80 rupees; last up 0.5%

**Communication technology firm posts 9.4% rise in fourth-quarter revenue; profit dips to 2.63 billion rupees ($27.94 million) from 10.40 billion in the year-ago period, which had seen a one-off gain from the sale of a stake in a subsidiary

**CLSA retains "outperform" on TATA, citing robust growth commentary by new CEO and upside from the potential STT GDC India IPO ahead; hikes PT to 2280 rupees from 2165 rupees

**Centrum Broking ("Neutral; PT: 1,525 rupees) says co's performance was driven by strong momentum in data and digital businesses

**Digital segment now accounts for 50%+ of data revenues, reinforcing shift to higher-value platform offerings; broad-based growth improves visibility - brokerage

**Centrum sees revenue growing at a CAGR of 8.9% over FY26-FY28E

($1 = 94.1350 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

((Mridula.Kumar@thomsonreuters.com;))

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

• TATA COMMUNICATIONS LTD - RECOMMENDS FINAL DIVIDEND OF 17.50 RUPEES PER SHARE

• TATA COMMUNICATIONS Q4 CONSOL NET PROFIT 2.63 BILLION RUPEES

• TATA COMMUNICATIONS Q4 CONSOL INCOME FROM OPERATIONS 65.54 BILLION RUPEES

Source text: ID:nBSENjflp

Further company coverage: TATA.NS

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

• TATA COMMUNICATIONS LTD- A. S. LAKSHMINARAYANAN HAS RETIRED AS THE MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER

Further company coverage: TATA.NS

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April 9 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• TCS EXEC: SHIFT FROM EXPERIMENTATION TO SCALED AI DEPLOYMENT SHOWED MARKED IMPROVEMENT IN FY26

• TCS EXEC: SEE COLLABORATION WITH TATA POWER, TATA COMMUNICATIONS TO SCALE DATA CENTRE BUSINESS

Source text: [ID:]

Further company coverage: TCS.NS

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March 27 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS LTD - ISSUES AND ALLOTS COMMERCIAL PAPER TOTALING 7.50 BILLION RUPEES

Source text: ID:nNSE2RZ0N2

Further company coverage: TATA.NS

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

• TATA COMMUNICATIONS LTD- JOINT VENTURE AGREEMENT EXECUTED BETWEEN TATA COMMUNICATIONS (HONG KONG) AND SHANGHAI RUNSHENGTONG MANAGEMENT CONSULTING CO

Source text: ID:nNSE7fxjKL

Further company coverage: TATA.NS

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

• CO AND RAILTEL COLLABORATE ON INDIA'S DIGITAL INFRASTRUCTURE

• ASSOCIATION TO MODERNIZE NETWORK INFRASTRUCTURE AND CYBER PROTECTION

Source text: ID:nNSE7MxcFt

Further company coverage: TATA.NS

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Adds details of partnership, background on data centre spending

NEW DELHI, Feb 19 (Reuters) - OpenAI will become the first customer of India's Tata Consultancy Services' data centre business, beginning with 100 megawatts of capacity, part of the global AI infrastructure initiative Stargate, the companies said.

Stargate is a $500 billion multi-year initiative to build AI data centres for training and inference, backed by major investors.

The deal is a major boost for TCS, which in a strategic shift last year disclosed plans to invest up to $7 billion in a 1 gigawatt data centre unit in India.

India has seen a surge in big-ticket AI infrastructure spending, with global players like Google GOOGL.O, Amazon AMZN.O, Meta Platforms META.O, and Microsoft MSFT.O, ramping up investments along with domestic companies such as Reliance RELI.NS, and Adani Group ADEL.NS.

Under a separate partnership, TCS parent Tata Group also plans to deploy ChatGPT Enterprise across the company over the next several years, starting with hundreds of thousands of employees. OpenAI is the parent company of ChatGPT.

India now has more than 100 million weekly ChatGPT users, OpenAI said.

(Reporting by Munsif Vengattil in New Delhi; Editing by Raju Gopalakrishnan)

((munsif.vengattil@thomsonreuters.com;))

Feb 10 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS LTD - APPOINTS SIDDHARTHA MUNDRA AS CFO - DESIGNATE

• TATA COMMUNICATIONS LTD - KABIR AHMED SHAKIR TO CEASE AS CFO EFFECTIVE APRIL 30, 2026

Source text: ID:nNSE5bbNR6

Further company coverage: TATA.NS

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Feb 3 (Reuters) - Tata Communications Ltd TATA.NS:

• KABIR AHMED SHAKIR RESIGNS AS CFO

Source text: ID:nNSE9Wt08Q

Further company coverage: TATA.NS

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Jan 21 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS Q3 CONSOL NET PROFIT 3.65 BILLION RUPEES

• TATA COMMUNICATIONS Q3 CONSOL INCOME FROM OPERATIONS 61.89 BILLION RUPEES

Source text: [ID:]

Further company coverage: TATA.NS

((Reuters.Briefs@thomsonreuters.com;))

Jan 16 (Reuters) - Tata Communications Ltd TATA.NS:

• TATA COMMUNICATIONS LTD - ISSUES COMMERCIAL PAPER OF 3 BILLION RUPEES

Source text: ID:nNSE7lXchr

Further company coverage: TATA.NS

((Reuters.Briefs@thomsonreuters.com;))

** 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)

((nishit.navin@thomsonreuters.com))

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)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

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

• ISSUES 7 BILLION RUPEES COMMERCIAL PAPER

Source text: ID:nBSE7gHWF9

Further company coverage: TATA.NS

((Reutersbriefs@thomsonreuters.com;))

Repeats story first published late Monday afternoon

By Wen-Yee Lee

TAIPEI, Aug 18 (Reuters) - Taiwan's Foxconn 2317.TW, which rose to become a global tech manufacturing juggernaut by assembling millions of iPhones, can now say its main business is no longer Apple AAPL.O as it takes advantage of the AI-boom to diversify its income.

Its revenue from making AI servers and other cloud and networking products, including for major customer Nvidia NVDA.O, surpassed smart consumer products such as iPhones for the first time in the second quarter, marking the culmination of a shift that began years ago and has swept through Taiwan’s tech industry.

Foxconn's heavy reliance on the smartphone business has long been viewed by investors as a significant risk, as demand growth for new iPhones has gradually weakened since they were first introduced nearly two decades ago, leaving the top iPhone assembler grappling with slowing sales momentum, analysts said.

Wary of the risk, Foxconn Chairman Young Liu has been championing new businesses such as AI servers, electric vehicles and semiconductors since taking the top job in 2019.

While its expansion into EVs and chips has yet to show a meaningful contribution to its topline, Foxconn's success in AI server manufacturing - the company is Nvidia's biggest server maker - is the result of its early bets before the technology was thrust into the limelight with the advent of ChatGPT in late 2022.

Consumer electronics accounted for 35% of Foxconn's total revenue in the second quarter, while cloud and networking business represented 41%. In 2021, consumer electronics represented 54% of its revenue.

The firm's prudent wagers years back helped it cultivate a now-prized relationship with the U.S. AI chip firm and other major AI players, analysts said.

"The company has been in the business for years, meeting higher quality requirements, diversifying assembly and operations across sites, and pursuing vertical integration,” said Ming-Chi Kuo, an analyst at TF International Securities.

Foxconn began producing reference designs for Nvidia’s graphics cards around 2002 and started making general-purpose servers for cloud service providers’ data centres as early as around 2009. Its AI server business with Nvidia is in many ways the culmination of that history, analysts said.

Foxconn says it is now one of the world’s largest suppliers of both general-purpose and AI servers, with a market share of nearly 40% in each.

The company has also shown a willingness to commit investment to a project at an earlier stage than other companies, Kuo said, citing its past investments for Apple and similar moves for Nvidia. “In long-term partnerships, Foxconn is more willing to take the initiative,” he said.

Foxconn's plan to build factories in Houston, Texas — part of Nvidia’s $500 billion U.S. investment plan — and in Mexico to produce AI servers for the U.S. client underscores this strategy, analysts said.

Foxconn now expects its AI server revenue would grow more than 170% in the third quarter year-on-year.

Foxconn and Nvidia declined to comment. Apple did not respond to request for comment.

BROADER SHIFT

The shift at Foxconn mirrors a broader trend in Taiwan’s technology sector, where companies once centred on consumer electronics — such as Foxconn with iPhones, and Quanta Computer 2382.TW and Wistron Corp 3231.TW with notebooks — are now investing heavily in AI servers.

Nvidia partner Wistron’s revenue for January to July rose 92.7%, while Quanta’s grew 65.6% in the same period.

"The monthly sales jump for Taiwan ODMs in the first half of 2025 is evidence of this trend,” said Robert Cheng, head of Asia technology hardware research at BofA Global Research, referring to original design manufacturers like Foxconn that contract manufacture products for their clients.

Their fast transition into AI servers is also the result of Taiwanese tech supply chain working closely with U.S. tech giants on data centre infrastructure work for a decade now, according to Chris Wei, industry consultant at Taiwan’s Market Intelligence & Consulting Institute.

He estimates Taiwan accounts for about 80% of global server shipments and more than 90% of AI servers.

Cheng agrees.

"We think this shift toward AI servers, whatever form it takes, is good for Taiwan’s tech industry," he said, noting Taiwanese firms' ability to rapidly shift to cater to changing needs from their customers.

(Reporting by Wen-Yee Lee; Editing by Miyoung Kim and Shri Navaratnam)

((wen-yee.lee@thomsonreuters.com))

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)

((Dharamraj.dhutia@tr.com, khushi.malhotra@tr.com))

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)

((Dharamraj.dhutia@tr.com))

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)

((Dharamraj.Dhutia@thomsonreuters.com;))

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)

((rudrapratap.singh@thomsonreuters.com))

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

((Reuters.Briefs@thomsonreuters.com;;))

** 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)

((VivekKumar.M@thomsonreuters.com;))

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)

((munsif.vengattil@thomsonreuters.com;))

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)

((munsif.vengattil@thomsonreuters.com;))

BENGALURU, April 22 Reuters - Diary of India economic, corporate events on April 22

ECONOMIC, CORPORATE .BSE500 EVENTS:

(Compiled by Bengaluru Newsroom)

((Diaries@thomsonreuters.com))

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

((Reuters.Briefs@thomsonreuters.com;))