Tata Stock To Buy: Telecom Stock Gains 8.41% In 2-Weeks, TP Rs 1900: HDFC Securities

Large cap company Tata Communications shares gained 0.71% in trade today to 1823.75 apiece on Monday. Leading brokerage firm HDFC Securities has assigned buy call to Tata Communications shares with target price of Rs 1900 apiece. The analyst has recommended to keep the stop loss at Rs 1740 apiece and buying range between 1800-1820 apiece. If you buy Tata Communications shares now, you can fetch potential gain of 4.18%. Tata Communications stock offered gain of 5.72% in last 1-week and soared 8.41% in last 2-weeks. Check details below:

Tata Communications Shares Performance & Return: The 52-week high price of Tata Communications shares is Rs 1956.85 apiece and 52-week low price is Rs 1157.10 apiece, respectively. The company has a market capitalisation of Rs 52,013.93 crore. Tata Communications shares zoomed 8% in last 6-months, rallied 47% in last 1-year, and offered return of 48% in last 2-years. The scrip rallied 82% in last 3-years and 461% in last 5-years.

Tata Communications Q3 Results: The company's Q3 net profit witnessed a decline thus missing analysts estimates. As per the BSE filing of the company, net profit of Tata Communications declined 79.6% to Rs 45.1 crore and total expenses surged 15% sequentially to Rs 5,305.47 crore. The company Q3 FY24 revenue surged 15.6% QoQ to Rs 5,633.3 crore and EBITDA rose 11.7% QoQ to Rs 1134.3 crore. Ebitda rallied 11.7% to Rs 1,134.3 crore for the quarter under review.

AS Lakshminarayanan, MD and CEO, Tata Communications, said, "We are pleased to report another quarter of robust growth as data revenue crossed the Rs 4,000 crore mark with digital services contributing 45 per cent, in line with our strategy. Even as we increase our impetus on people and platforms to deliver long-term value, our acquisitions of Oasis, The Switch and Kaleyra have created new avenues for growth and innovation. We remain confident about our medium-term ambitions."

Tata Communications About: The Company enables the digital transformation of enterprises globally, including 300 of the Fortune 500 - unlocking opportunities for businesses by enabling borderless growth, boosting product innovation and customer experience, improving productivity and efficiency, building agility and managing risk. With its solutions orientated approach, proven managed service capabilities and cutting-edge infrastructure, Tata Communications drives the next level of intelligence powered by cloud, mobility, Internet of Things (IoT), collaboration, security and network services, according to its official website.

Disclaimer:

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