Tata Communications gains 3% on partnership with Neeco for IoT services

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Shares of Tata Communications added 3.6 percent in the early trade on September 4 after the company entered into an arrangement with Neeco for Internet of Things (IoT) services.

Neeco Global ICT Services has become a customer of Tata Communications to take to market and deliver IoT services for enterprises in Europe, as per company release.

With this arrangement, Neeco will leverage the Tata Communications MOVE platform to offer integrated IoT services to its customers, enabling them to deploy IoT connected devices anywhere in the world, it added

At 0935 hrs, Tata Communications was quoting at Rs 423.90, up Rs 10.65, or 2.58 percent on the BSE.

The share touched its 52-week high of Rs 626.65 and its 52-week low of Rs 402 on 02 April, 2019 and 23 August, 2019, respectively.

Currently, it is trading 32.66 percent below its 52-week high and 4.98 percent above its 52-week low.