TTML: Multibagger stock jumps 13% amid spurt in volume; share up over 3300% in two years; buy Tata Group stock for this target

TTML Share Price target: Shares of Tata Teleservices (Maharashtra) Ltd rose almost 13% in the BSE intraday trade on Thursday. The jump in TTML stock price came after the stock witnessed a breakout and closed in upper circuit of Rs 108.45 per share on the BSE on Tuesday. TTML share price jumped around 13% to Rs 123.75 per share in BSE intraday trade amid spurt in volume on Thursday.    

A multibagger stock, this telecom share has surged over 220% in the past one year and yielded a whooping over 3300% return in the last two years.  The counter, which is still trading at a huge discount from its 52-week high value, has traded on year-high figure of Rs 291.05 in January this year. The stock touched 52-week low of Rs 33.30 per share on the BSE on September 7, 2021.  

From today's high value of Rs 123.75, the telecom counter can see a surge of further 17% in the short-term.   

Speaking on the potential of TTML share price, Rahul Goud, research analyst, Equity Research, said TTML has been trading in a downward trend since April 2022. But the stock broke out on the upside with a significant volume and closed above the channel on Tuesday.    

"Stocks above Rs. 111 can be purchased by traders with a stop loss of Rs. 99 and a short-term goal price of Rs. 145," recommended Goud.     

A Tata Group company, Tata Teleservices (Maharashtra) Limited (TTML) is a leading player in the connectivity and communication solutions market serving enterprise customers. It offers services ranging from connectivity, collaboration, cloud, security, IoT to marketing solutions as comprehensive portfolio of ICT services for businesses in India under the brand name Tata Tele Business Services (TTBS). 

TTBS provides integrated telecom solutions to enterprises that go beyond the purview of connectivity into offering one-stop-shop business solutions and managed services.