Rekha Jhunjhunwala increases stake in this Tata group multibagger

Rekha Jhunjhunwala, wife of veteran investor late Rakesh Jhunjhunwala, has increased stake in Tata Group’s telecommunications service entity, Tata Communications.

According to the latest shareholding pattern of the stock for the September ended quarter, Rekha Jhunjhunwala held 45,75,687 equity shares in the concern, equivalent to 1.61% stake. Earlier in the June ended quarter, the ace investor held 30,75,687 equity shares or 1.08% stake, implying that the investor has added 0.53% stake in Tata Communications during the period under review.

Rekha Jhunjhunwala publicly holds 19 stocks with an estimated net worth of over Rs 10,405.1 crore, shows Trendlyne data.

Tata Communications is a multibagger scrip with 3-year returns at 224%. Nonetheless, the stock over the last 1-year period and also on a YTD basis has corrected by 19% and 20%, respectively.

Of the 6 analysts recommendations on the stock, 3 have suggested a strong buy on the stock, while 2 have signaled a buy and the last one has given a hold. The highest target price on the stock is Rs 2,354, signalling a potential return of 100%.

Tata Communications, commanding a m-cap of around Rs 33,490 crore is a midcap company. The company is a digital enabler that equips the fast-growing digital economy. The company offers services to 300 of the Fortune 500 companies given its expertise in cloud, IoT, collaboration, security and network services.

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