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Rakesh Jhunjhunwala portfolio: Experts recommend 'buy' on this communication stock

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  • Rakesh Jhunjhunwala portfolio: Experts recommend 'buy' on this communication stock
    2021-06-24, By: System Administrator

    Source : (https://www.livemint.com/)

    Rakesh Jhunjhunwala has investments in this company through his wife Rekha Jhunjhunwala

    Rakesh Jhunjhunwala portfolio stock Tata Communications share price has given around 20 per cent return in the last one month. Interestingly, this near 20 per cent return is after more than 5 per cent correction in the last five trade sessions in this Rakesh Jhunjhunwala stock. According to stock market experts, this correction was nothing but profit-booking and Tata Communications shares are expected to further rise up to ?1800 mark in next 6 to 9 months.

    Speaking on the reason for being so bullish on this Rakesh Jhunjhunwala company stock Ravi Singhal, Vice Chairman at GCL Securities said, "Tata Communications will be a beneficiary communication company from the TCS Bharti Airtel deal that aims to roll-out Made in India 5G because it Tata Communications looks after their communication network. Apart from this, the company is expected to get around ?10,000 crore additional liquidity from the Government of India's plan to monetize its land bank that it received from BSNL."

    Highlighting the strong fundamentals of the company that is further supporting Tata Communications share price positive outlook Sandeep Matta, Founder TRADEIT Investment Advisors said, "Tata Communications has presence in over 200 countries serving more than 7,000 customers globally. It represent over 300 of the Fortune 500, Connects 4 out of 5 mobile subscribers worldwide and Connects businesses to 60 per cent of the world’s cloud giants. The company’s strategic growth plan, focused approach and structural improvement in margins have attracted multiple re-rating. Though deal closures delays and some segmental impact due to Covid could have near term weakness in revenues, the demand outlook is robust as the company is focusing on reinvesting for growth and even looking for inorganic expansion." He said that any dip in the counter should be seen as a buying opportunity by investors.

    Asked about his suggestion to the stock market investors in regard to Tata Communications shares Ravi Singhal of GCL Securities said, "One can buy this Rakesh Jhunjhunwala stock at current market price (Monday close price of ?1267 at NSE) for six to nine month targets of ?1670 and ?1800." However, Singhal advised strict stop loss at ?1100 while taking buy position in the counter.

    For short-term traders who want to take position in Tata Communications stock Sandeep MAtta of TRADEIT Investment Advisors said, "Short-term traders can buy the counter only above ?1289 for the target of ?1335 with the stop loss of ?1235."

    Rakesh Jhunjhunwala share holding in Tata Communications

    As per March 2021 quarter Tata Communications shareholding pattern available with the BSE, Rakesh Jhunjhunwala has investments in Tata Communications through his wife Rekha Jhunjhunwala. Rekha Jhunjhnwala holds 29,50,687 Tata Communications shares which is to the tune of 1.04 per cent of the net company shares.

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