Buy Tata Communications, target price Rs 1375: ICICI Direct

ICICI Direct has buy call on Tata Communications with a target price of Rs 1375. The current market price of Tata Communications Ltd. is Rs 1344.5.

Tata Communications Ltd., incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 37550.18 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 30-09-2022, the company reported a Consolidated Total Income of Rs 4467.36 Crore, down -1.70 % from last quarter Total Income of Rs 4544.51 Crore and up 6.10 % from last year same quarter Total Income of Rs 4210.44 Crore. Company reported net profit after tax of Rs 527.33 Crore in latest quarter.


Investment Rationale
Stock rebounding taking support at the lower band of the rising channel in place since September 2022.

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.