Tata Group Mid Cap Stock Falls 4% Post Q3 Earnings, Should You Buy, Hold, Or Sell?

Shares of Tata Group stock, Tata Communications Ltd witnessed a decline of 3.90% after the company declared a net profit of approximately Rs 394 crore for the quarter ended December 2022, a little lesser than the year ago period.

Tata Communications Q3 FY2023 net profit was declared 0.3% lesser than previous year's net profit of approximately Rs 395 crore on January 23, 2023 . Sequentially, the net profit remains down 26% from the September quarter.

Meanwhile, the company's consolidated revenue for the quarter ended December 2022 reported at approximately Rs 4,528 crore, up 8.2% on-year. The data business revenue reported at Rs 3,593 crore, up 11.1% on-year, according to the company's statement.

1. Tata Communications Stock Performance

The current market price of Tata Communications is Rs 1328.90 apiece with intraday fall of 3.90% till 12:59 pm on January 24, 2023. The stock's 52-week high is Rs 1429.95 apiece and 52-week low is Rs 856.00 apiece, respectively. The company has a market capitalisation of Rs 37,962.00 crore.

2. Tata Communications Return

The stock soared over 9% in last 1-month, 8% in last 3-months, over 2% in last 1-year, and 192% in last 3-years. It has given 109% return in last 5-years. In last 6-months, the mid cap cap stock surged 26%.

3. Motilal Oswal On Tata Communications

Motilal Oswal has given neutral rating to Tata Communications stock with a target price of Rs 1140 apiece.

4. About Tata Communications

The mid cap company was incorporated in 1986 and operates in Telecommunications sector. Tata Communications is a digital ecosystem enabler that powers today's fast-growing digital economy.

It enables the digital transformation of enterprises globally, including 300 of the Fortune 500. It carries around 30% of the world's internet routes and connects businesses to 60% of the world's cloud giants, according to its official website. 

Disclaimer

The stock has been picked from the brokerage report of Motilal Oswal. 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 taking any investment decision.