DSP Mutual Fund buys stake in multibagger Tata group stock. Buy, sell or hold?
2 min read . Updated: 19 Jan 2023, 10:12 AM IST
Premium- Multibagger stock: DSP Mutual Fund added this Tata group stock in its portfolio in December 2022
Buy or sell stock: DSP Mutual Fund has added Tata Communications in its portfolio in December 2022. As per the DSP Mutual Fund shareholding date as on 31st December 2022, the asset management company (AMC) has bought 5500 Tata Communications shares in last month hat signals that the AMC is bullish on this multibagger Tata stock that has surged to the tune of 500 per cent in last three years.
According to stock market experts, the DSP Mutual Fund buying stake in this multibagger Tata stock cab be attributed to the bull trend stock has shown in recent sessions. They said that Tata Communications share price may continue to surge further even though it is currently trading at one year high. They said that the stock is still available at attractive valuations and its assets are also in uptick moment. Giving 'portfolio stock' tag to Tata Communications shares, market experts advised positional investors to maintain 'buy on dips' strategy in this DSP Mutual Fund-backed multibagger stock.
Speaking on Tata Communications share price outlook, Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, "Tata Communications shares are still available at attractive valuations and its assets are also in an uptick moment. So, both stock and assets of the company are in high demand zone and hence one should maintain buy on dips strategy in the stock. However, my advice to stock market investors is to take this stock as portfolio stock and one should should have medium to long term time horizon while adding this stock in one's portfolio."
Chandan Taparia of Motilal Oswal said that mutual funds betting high on this multibagger Tata stock is an indication that the stock is expected to outperform its peers in medium to long term.
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Expecting further rise in DSP Mutual Fund-owned Tata group stock, Sumeet Bagadia, Executive Director at Choice Broking said, "On technical chart pattern, the stock has made higher high higher low pattern that signals further upside movement in the scrip. Even though the stock is at one year high, one should look at buying opportunity in this scrip of the stock undergoes some profit booking phase. One can buy the stock at current levels maintaining stop loss at ₹1350 for short term target of ₹1450 to ₹1500 and keep accumulating till the stock is trading above ₹1355 apiece levels."
Tata communications share price history
In last one month, this Tata group stock has risen around 4.50 per cent whereas in last six months, it has delivered more than 35 per cent return to its shareholders. However, in last one year, this communication stock has shed near 10 per cent as it remained under base building mode in first six months of 2022. This DSP Mutual Fund backed stock is one of those shares that delivered stellar return to its investors in post-Covid rally. From March 2020 to till date, Tata Communications share price has ascended from around ₹230n to ₹1380 apiece levels, ascending to the tune of 500 per cent in these near three years.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
