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Please consult your investment advisor before investing. Capital markets investments are subject to rules and regulations. 12:42 Celsius Bankruptcy Should Face Probe to Overcome Inherent Distrust, U.S. 12:42 Ride-hailing stocks reverse after recent rally MarketWatch. does not bear any responsibility for their investment advice. dollar is on fire and slicing through key technical levels like a hot knife in butter’ MarketWatch. (The stock recommendations in this story are by the respective research analysts and brokerage firms. Late billionaire investor Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala held 30.7 lakh shares or 1.08% stake in the company till 30 June 2022. “With cash flow generation consistency and growth levers like cloud, edge & security, IOT, etc, we remain constructive on the company,” the brokerage said.Īlso Read: Reliance share price falls 0.7%, drags Nifty, Sensex analysts bullish on RIL, stock may rally this much Furthermore, a stable performance and improved cash flow generation, deleveraging possibilities and improved return ratios bode well for the company. While deal closures, delays and supply chain issues have led to slower recovery in revenues, the demand outlook is robust in the medium to long term. So far this year, Tata Communications share price has tanked 20.04 per cent, underperforming benchmark Nifty 50 which is down just 0.2 per cent.Īccording to ICICI Direct, Tata Communications’ strategic growth plan, focused approach and structural improvement in data segment margins has driven multiple re-rating.

“Among oscillators, the weekly 14 period’s RSI is in a strong up trend and is seen sustaining above its nine period’s average, thus validating the positive bias,” it said.

The brokerage expects the stock to continue its current up move and head towards Rs 1275 levels in coming months as it is the 80% retracement of the April-June decline of Rs 1400-857. The stock has generated a breakout above the last three month’s range of Rs 1122-857 as buying demand has emerged from the 200-week EMA currently placed at Rs 895, and the 80% retracement of the previous major up move of September 2020 to January 2022, signalling a positive price structure. “This signals the end of the corrective phase and resumption of primary up move, thus offering a fresh entry opportunity,” they said. Within this space, the analysts are buoyant on Tata Communications as it is seen resolving out of a falling channel containing decline since January 2022. Paytm, Reliance Industries, TCS, JSW Steel, AstraZeneca, IIFL Finance stocks in focus on 22 AugustĪccording to the ICICI Direct report, the telecom sector has been regaining traction after 3-4 months of breather.