Shares of Tata Communications Ltd. rallied nearly 8 per cent on Thursday, after the company said that it has acquired a 58.1 per cent stake in France-headquartered embedded-SIM (eSIM) technology firm Oasis Smart SIM Europe SAS (Oasis).
At 9:40 am, the shares of Tata Communications were trading 7.79 per cent high at Rs 1,130, while the benchmark Sensex jumped 0.80 per cent to 46,815.55 points.

“Enterprises are increasingly relying on mobile devices to operate and access data in the cloud. This coupled with the rise in the number of M2M connections globally show that there is immense opportunity in the eSIM market,” said Tri Pham, Chief Strategy Officer & Innovation Officer, Tata Communications Ltd.
The acquisition comes at a time when the telecom company is betting big on IoT (Internet of Things) and has to stay ahead of the competition from other operators. Tata Communications said that the company will focus on the software layer of its MOVE portfolio and to further drive innovation in eSIM technology through its product roadmap R&D. The acquisition would also help the telecom operator to provide better offerings to its enterprise customers globally.