Tata Comm jumps 9% on acquisition of majority stake in Oasis in France

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Shares of Tata Communications jumped 9% to Rs 1,140 on ESB on Thursday after the company announced the acquisition of a controlling stake in France-based integrated SIM (eSIM) technology provider Oasis Smart SIM Europe SAS (Oasis). Tata Group shares hit an all-time high intraday today, surpassing its previous high of Rs 1,103, reached on November 25, 2020. In the past six months, the share rose 90%, from 34%. rise in S&P BSE Sensex.

According to the press release, Oasis develops and provides advanced technologies and personalized services to enable the deployment of eSIM and SIM technologies. With this investment, eSIM technology will be fully integrated into Tata Communications MOVETM, enabling an integrated end-to-end connectivity solution and strengthening Tata Communications MOVE ™ as a single source platform for the mobility needs of global businesses, said the society.

Tata Communications will drive and accelerate product roadmap R&D with Oasis, leveraging and amplifying growth in the mobility and IoT markets.

Forecasts predict that by 2025, two billion eSIM-enabled devices will be shipped. ESIMs facilitate secure, reliable and cost-effective cellular connectivity for IoT and M2M applications. They allow significant ease of use with remote provisioning and the ability to connect to multiple mobile network operators, making it easier for end users to manage subscriptions, with an added layer of security, the company said.

As of 12:00 p.m., the stock was trading 3 percent higher at Rs 1,077 on BSE, compared to 0.51 percent higher on S&P BSE Sensex. Counter-trading volumes surged multiple folds, with a total of 430,000 shares changing hands on the NSE and BSE.



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