Tata Communications is set to discuss a proposal to raise funds through Non-Convertible Debentures (NCDs) during its board meeting on July 18, 2024. This move is part of the company's strategy to manage debt effectively, control costs, and minimize financial risks.

The telecommunications giant regularly reviews its debt structure, sometimes refinancing ahead of schedule to align with its financial objectives. The upcoming evaluation of NCD issuance underscores Tata Communications' commitment to maintaining a stable balance sheet.

The company's debt management framework emphasizes a balanced maturity schedule and utilizes diverse debt instruments to access funding from a wide range of lenders globally. This strategy helps mitigate risks associated with debt, such as interest rate fluctuations, currency risks, and liquidity challenges, by leveraging natural hedges against operational cash flows.

Tata Communications' proactive approach to financial management aims to sustain long-term financial health while supporting its operational requirements across various geographic markets.

Sensex Today - IT Stocks Drive Indian Market Higher

Indian benchmark equity indices experienced positive momentum on Friday, primarily driven by gains in IT stocks after Tata Consultancy Services (TCS) exceeded revenue expectations for the June quarter.

The Sensex climbed 622 points, while the Nifty rose above 24,500. The IT sector led the rally, while the realty sector faced some drag.

Leading the pack of gainers on the Nifty were TCS, Wipro, LTIMindtree, Infosys, and HCL Technologies. On the other hand, Maruti Suzuki, Divis Labs, BPCL, Coal India, and Asian Paints were among the biggest losers.

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