Invest In This Tata Group Stock For A Target Price Of Rs 850, 3 Years Return 685%

Ventura Securities has given buy rating to the Tata group stock Tejas Networks Ltd for a target price of Rs 850 apiece. According to Ventura Securities, the shares of Tejas Networks Ltd has given 40% return in year-to-date (YTD) time.

The brokerage firm remains optimistic about Tejas Networks stock and thinks that it may surge to Rs 850 apiece from the current market price of Rs 613 apiece with a potential return of 38%.

Tejas Networks Ltd Stock Outlook

The current market price of the stock is Rs 615 apiece with a gain of 0.90% in morning trade.

Tejas Networks Ltd 52 Week High/Low

The stock's 52-week high is Rs 648 apiece and the 52-week low is 352 apiece, respectively.

Tejas Networks Ltd 5 Years Return

The stock has given a return of 25% in 1 week, 31% in 1 month, 42% in 3 months, 65% in 1 year, 685% in 3 years, and 81% in 5 years.

Tejas Networks Ltd Market Capitalization

The stock's market capitalization at the time of writing the story is Rs 9,320. 35 crore.

Tejas Networks Ltd Shares Price Trend

According to Ventura Securities, "The stock price started its up move from 156 (April 2021) to 570 (Oct 2021), making series of Up gaps formations suggesting strong buying interest. During the move, as seen in charts the stock always took support of averages & Super trend is in positive mode till date." The brokerage said that the firm uptrend since April 2021 suggests a strong 'Bull Grip' in the stock."

"Recently, the stock gave Range breakouts (Oct 2021 to Aug 2022) & made a high of 550 above Previous Swing high of ₹524. The stock has never breached the averages and up Gap levels during the up Trend," added Ventura Securities.

Tejas Networks Ltd Valuation

According to Ventura Securities, "The Aroon Up/Down, MACD, & Demand Index Indicator suggest a Possibility of Strong up Move. The possible targets are ₹850. If the stock price corrects downwards the buy levels are ₹515 to ₹494 and ₹460 to ₹450. Stop Loss to be observed in the trade is ₹415."

Tejas Networks Ltd About

The company is a part of Tata Group with Panatone Finvest Ltd. (a subsidiary of Tata Sons Pvt. Ltd.) being the majority shareholder. Tejas Networks is a global broadband, optical and wireless networking company, with a focus on technology, innovation and R&D.

It designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries.

Tejas has an extensive portfolio o f leading-edge telecom products for building end-to-end telecom networks based on the latest technologies and global standards with IPR ownership.

Disclaimer

The stock has been picked from the brokerage report of Ventura Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before making any investment decision.