Rakesh Jhunjhunwala Portfolio In the recent sell-off, a good number of quality stocks in the Indian stock market have seen a huge correction. Shares of Tata Communications is one of them. The Rakesh Jhunjhunwala stock is nearing its 52-week low, which could be an attraction for positional investors who are looking for quality buys at a fair price. According to stock market experts, the share price of Tata Communications is looking positive for long-term investors as its order book has improved and the company has expressed confidence in its recent revenue growth recovery.
to speak on Tata Communications Share Price OutlookSonam Srivastava, Founder, Wright Research – SEBI registered investment advisory firm said, “Tata Communications shares hit 52-week low after weakness following lower than expected EBIDTA growth rate posted by the company. Weakness is also a contributing factor for the company and the telecom sector. We are positive about the company’s long-term prospects as it improves the order book funnel and management commentary indicates a gradual recovery in revenue growth.”
On Tata Communications share price chart pattern, Anuj Gupta, Vice President – Research, IIFL Securities said, “The Tata Group stock is close to its support zone, making it a good buying area for positional long term investors. Can also buy the stock at present. Levels maintaining stop loss 730 each level. In the short term, it could go up 820 levels.”
Rakesh Jhunjhunwala’s stake in Tata Communications
Rakesh Jhunjhunwala has invested in this Tata group company through his wife Rekha Jhunjhunwala, as per the shareholding pattern of Tata Communications from January to March 2022. Rekha Jhunjhunwala holds 30,75,687 shares or 1.08 per cent stake in the company.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.