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    Buy Tata Communications, target price Rs 1305: Sharekhan by BNP Paribas

    Synopsis

    Support 61.82% fibonacci retracement level andformed a Bullish outside bar suggesting upside.

    Tata CommunicationsETCIO
    Tata Communications, incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 35351.40 Crore) operating in Telecommunications sector.
    Sharekhan by BNP Paribas has buy call on Tata Communications with a target price of Rs 1305.The current market price of Tata Communications is Rs 1240.75. Sharekhan by BNP Paribas recommended to keep stop loss at Rs 1213.

    Tata Communications, incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 35351.40 Crore) operating in Telecommunications sector.

    Tata Communications key Products/Revenue Segments include Telecommunication Services for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 4559.09 Crore, up 2.05 % from last quarter Total Income of Rs 4467.36 Crore and up 8.45 % from last year same quarter Total Income of Rs 4203.69 Crore. Company has reported net profit after tax of Rs 387.04 Crore in latest quarter.

    The company’s top management includes Ms.Renuka Ramnath, Mr.Amur S Lakshminarayanan, Mr.Srinath Narasimhan, Mr.N Ganapathy Subramaniam, Mr.Ashok Sinha, Mr.Krishnakumar Natarajan. Company has S R Batliboi & Associates LLP as its auditors. As on 31-12-2022, the company has a total of 28 Crore shares outstanding.

    Investment Rationale
    Support 61.82% fibonacci retracement level and formed a Bullish outside bar suggesting upside.

    Promoter/FII Holdings
    Promoters held 58.86 per cent stake in the company as of 31-Dec-2022, while FIIs owned 17.28 per cent, DIIs 13.92 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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