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Tata Comm gains 2% after board approves demerger of surplus land


Tata Comm gains 2% after board approves demerger of surplus land Research and broking firm IDFC Securities has reiterated an underperform rating on Tata Communications with a target of Rs 655 per share. However, the house feels that approval for demerger of surplus land is a positive for the company adding that the stock price is already reflecting value unlocking from the listing of de-merged entity.