Buy Tata Communications, target price Rs 1295: Religare Broking

Religare Broking has buy call on Tata Communications Ltd. with a target price of Rs 1295. The current market price of Tata Communications is Rs 1198. Tata Communications Ltd., incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 34081.73 Crore) operating in Telecommunications sector.

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



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 4544.51 Crore, up .40 % from last quarter Total Income of Rs 4526.55 Crore and up 10.41 % from last year same quarter Total Income of Rs 4116.14 Crore. Company reported net profit after tax of Rs 535.12 Crore in latest quarter.


Investment Rationale
Formed a base above the major moving averages ribbon. Looks set for a recovery now.

Promoter/FII Holdings
Promoters held 58.86 per cent stake in the company as of 30-Sep-2022, while FIIs owned 17.88 per cent, DIIs 13.89 per cent.