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What: Shares of Sify Technologies
So what: Saudi Telecom is partnering with Sify to provide ICT services to the Middle East's largest telecom carrier. With a large footprint in India, this is a natural extension for Sify's growing network of customers.
Now what: The stock jumped as soon as the news came out, but it has settled a little lower, currently trading up 4.3% on the day. This is a positive move, but the company reported a loss last quarter, so I'm waiting to see some profit before getting too excited about a signing like this. If a growing network leads to more growth, this stock will look cheap, but I'm taking a cautious approach for now.
Interested in more info on Sify Technologies? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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