With the ongoing correction phase, the stock has managed to retain its multibagger tag only in a period of 10 years.
Tata Communications stock rose 2.59% to Rs 1659.50 in early deals. At 10:24 am, the stock was trading 2.50% lower at Rs 1577.15.
JM Financial has a target of Rs 2,460 for Bharti Airtel, Rs 2,195 for Bharti Hexacom, Rs 11 for Vodafone Idea, Rs 355 for Indus Towers and Rs 2,250 for Tata Communications.
Tata Communications stock closed at Rs 1,840, up 1.4%. The company reported a six-month return of 9.8% and Commotion Inc. posted 2024 revenues of $118,750.
Tata Communications' shares rose 7% to hit a record high of Rs 2000 on NSE. Market cap of the firm stood at Rs 55,272 crore.
Axis Securities said that Samman Capital has experienced a trend reversal on the daily and weekly time frames recently, which shows bullish sentiments.
The Tata Group firm recently launched its Voice AI platform powered by Agentic AI -- an industry first speech-to-speech customer engagement solution offering instant decision making, multilingual fluency and sub 500 milliseconds latency performance.
Tata Technologies Ltd, Tata Elxsi Ltd, Tata Teleservices (Maharashtra) Ltd, Tata Communications Ltd, Tata Chemicals Ltd and Tata Power Company Ltd contributed negatively to the group m-cap.
Overall, the market dynamics in the telecom sector appear poised for transformation, driven by strategic tariff adjustments and the impending Jio IPO.
Tata Communications shares closed on a flat note at Rs 1,592.75 on Monday against the previous close of Rs 1608.30 on BSE.
Stocks including Vikram Solar, HDFC Bank, Paytm, Tata Motors, Sai Life Science, Patel Retail, Aditya Birla Capital, PSU banks and more will be in the spotlight on Tuesday, August 26.
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