Stay put in Tata Communications: Prakash Diwan

Prakash Diwan of prakashdiwan.in told CNBC-TV18, "Tata Communications has been trying to sell some of the family silver since quite a while. They continue making losses because of the kind of huge capex that they incurred in the Neotel business. If you realise about a week back, they also announced the ATM business being put on the block - that was about Rs 1,300-1,400 crore which has also started breaking even which essentially means this is a great company but at the current market price there is about Rs 300 of book value. So it is asset rich but cash trapped.""This is definitely going to help it improve in terms of getting ahead with its business which particularly is something that they want to focus on the data business that they talk about. So it is very positive for investors who are invested into the stock. I think there could be much better values coming in the days to come, so stay put," he said."However, for new entrants, I would believe the good side has already gone, so don't take a risk of getting in because it is anyways going to open gap up today but for existing investors this could be the right time to start realizing some value.""One can look at Coffee Day. It is an undervaled stock. They have advantage to captive coffee plantation.""Tata Motors at around Rs 400 is a great buy."