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Buy Tata Communications; target of Rs 1250: ICICI Direct

ICICI Direct is bullish on Tata Communications has recommended buy rating on the stock with a target price of Rs 1250 in its research report dated June 15, 2022.

June 15, 2022 / 05:24 PM IST
 
 
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ICICI Direct's research report on Tata Communications


Tata Communications (TCom) is the leading global digital ecosystem enabler. It provides its clientele with state-of-the-art solutions, including a wide range of communication, collaboration, cloud, mobility, connected solutions, network and data centre services.



Outlook


We maintain BUY on the company. We value TCom at a target price of Rs 1250 as we lower our target multiple to 20x from 24x earlier, amid higher cost of capital in rising interest rate regime.


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At 16:01 hrs Tata Communications was quoting at Rs 875.55, down Rs 46.10, or 5.00 percent.


It has touched an intraday high of Rs 922.05 and an intraday low of Rs 856.00.


It was trading with volumes of 123,154 shares, compared to its thirty day average of 38,915 shares, an increase of 216.47 percent.


In the previous trading session, the share closed down 0.10 percent or Rs 0.90 at Rs 921.65.


The share touched its 52-week high Rs 1,590.00 and 52-week low Rs 906.30 on 17 January, 2022 and 26 May, 2022, respectively.


Currently, it is trading 44.93 percent below its 52-week high and 3.39 percent above its 52-week low.


Market capitalisation stands at Rs 24,953.18 crore.


For all recommendations report, click here


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first published: Jun 15, 2022 05:24 pm
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