Tulip Tele among toppers list with 11.6 percent gain
By siliconindia   |   Friday, 12 June 2009, 01:09 IST   |    1 Comments
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Tulip Tele among toppers list with 11.6 percent gain
Bangalore: Tulip Telecom ended the day at Rs 774.60 gaining by 80.85 (11.65 percent) after opening at Rs 700.60. The stock had closed at Rs 693.75 yesterday reached the intraday high of Rs 813.30 and a low of Rs 690.00 on Thursday. The P/E ratio of the stock is 12.47. Tulip Telecom is a data telecom service and IT solutions provider that offers innovative IP based infrastructural solutions to its customers. Being the largest MPLS VPN Service Provider in India, Tulip has innovatively deployed a countrywide network using wireless on the last mile and has successfully bridged the large digital divide that existed in rural India. Tulip has further strengthened its leadership position by offering end-to-end fiber connectivity to all large metros of India. During the fiscal year ended March 31, 2008, the company generated revenues in excess of Rs 1242.14 Crores ($310.73 Million). With the largest data connectivity network spanning more than 1300 locations in India, Tulip has been the front-runner in provisioning multi location networks for various industry verticals. Out of the eight analysts following Tulip Telecom, four suggested to buy. While three of them suggested the stock outperform, one of them said it will underperform. None of the analysts recommend selling the stock. The telecommunication sector has turned out to be the major gainer today even as the market closed in red down 55 points. Other telecom companies like Spice Communications soared eight percent, Tata Communications surged ten percent and Idea Cellular surged five percent.

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