Rakesh Jhunjhunwala portfolio: Tata group stock at 52-week low. Should you buy?
- Rakesh Jhunjhunwala portfolio: Tata Communications share price looks positive for long term positional investors as its order book has improved and the company has recently expressed confidence in its revenue growth recovery, believe stock market experts
Rakesh Jhunjhunwala portfolio: In recent sell-off, a good number of quality shares in the Indian stock market have undergone heavy correction. Tata Communications shares are one of them. This Rakesh Jhunjhunwala stock is close to its 52-week low that can be an attraction for the positional investors who are looking for a quality shopping at reasonable price. According to stock market experts, Tata Communications share price looks positive for long term positional investors as its order book has improved and the company has recently expressed confidence in its revenue growth recovery.
Speaking on Tata Communications share price outlook, Sonam Srivastava, Founder at Wright Research — a SEBI Registered Investment Advisor firm said, "Tata Communications shares are at a 52-week low following the weakness after the lower than expected EBIDTA growth rate posted by the company. The broad market weakness is also a contributing factor for the company and the telecom sector. We are positive about the long-term prospects of the company as it is order book funnel has improved and the management commentary does indicate a gradual recovery in revenue growth."
On Tata Communications share price chart pattern, Anuj Gupta, Vice President — Research at IIFL Securities said, "This Tata group stock is near to its support zone forming a good buying zone for positional long-term investors. One can buy the stock at current levels maintaining stop loss at ₹730 apiece levels. In short term, it may go up to ₹820 levels."
Rakesh Jhunjhunwala share holding in Tata Communications
According to Tata Communications shareholding pattern for January to March 2022, Rakesh Jhunjhunwala has invested in this Tata group company through his wife Rekha Jhunjhunwala. Rekha Jhunjhunwala holds 30,75,687 shares or 1.08 per cent stake in the company.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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