Hold Tata Communications; target of Rs 1710: Emkay Global Financial

Emkay Global Financial recommended hold rating on Tata Communications with a target price of Rs 1710 in its research report dated September 03, 2023.

Broker Research

September 04, 2023 / 13:08 IST

Hold

26 Aug, 2025 12:21

Volume

Todays L/H

Emkay Global Financial's research report on Tata Communications

We visited TCom’s Customer Experience Center located in Mumbai, which was launched around April 2022. The center is divided into four zones and creates curated journeys, depending upon customers and their interests, using various use-cases. The discussions are about TCom’s capabilities (what TCom can do) as well as its credibility (where TCom has implemented its applications). The center gives an insight into the company’s Digital Platform and Solutions (DPS) and discusses case studies to demonstrate how TCom stitches together platforms in the hyper-connected ecosystem to solve customer problems, which can drive TCom’s next growth phase. Post the acquisition of Switch and Kaleyra, the focus now shifts to execution, as synergies can help improve margins.

Outlook

We retain our HOLD rating, with a TP of Rs1,710 (10.5x its June-25E EBITDA).

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