Tata Communications stock falls for 8th straight day; brokerages see limited upsideMoneycontrol • 7 days ago
Tata Communications' weak margin performance in Q4 turned out to be the biggest dampener for brokerages. Its EBITDA margin contracted to 18.6% in Q4, down from 22.6% in the year-ago period.
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Motilal Oswal recommended Neutral rating on Tata Communications with a target price of Rs 1910 in its research report dated April 18, 2024.
ICICI Securities recommended hold rating on Tata Communications with a target price of Rs 1870 in its research report dated April 18, 2024.
Tata Communications MD and CEO A S Lakshminarayanan is expecting to launch its AI Cloud with Nvidia sometime later this year.
Tata Communications also said that its board has recommended a final dividend of Rs 16.70 per share
The Nifty is anticipated to find long-term support at 21,700 followed by 21,600 levels.
Given the current chart structure, a consolidation phase is expected in the Nifty 50.
The daily bullish candle and the hourly chart's pattern of higher-highs, higher-lows affirms the robust outlook, with the next rally potentially targeting the 22,300-22,350 range
If the Nifty 50 climbs above 22,127, the previous record high, and sustains the level, then 22,300 could be the next hurdle on the higher side, followed by 22,500, while the immediate support will be at 21,950, followed by 21,750
For the reporting period, Data Revenue grew 28.5 percent YoY to Rs 4,618 crore. Digital Portfolio Revenue grew 78.2 percent YoY and India Enterprise revenue grew 10.4 percent YoY.