370% return in 5 years: This stock of Tata Group may give bumper return in 1 year; brokerage gives buy call - Check target price

Tata Communications Share Price Target: Shares of Tata Communications opened in red despite equity benchmark indices Sensex and Nifty gaining in early trade on Monday amid a rally in Asian markets. The counter opened at Rs 1774.55 and further dipped to Rs 1737.10, 1.02 per cent lower than the previous close of 1754.95 on the BSE. 

The stock has been losing for the last 9 days but brokerage firm Nuvama has given a 'buy' call on this stock after the company announced it Q4FY24 results. The brokerage firm said that the company's Q4 results were normal. In the last year, this stock has generated returns of around 50 per cent.

Tata Communications Share Price Target:

Nuvama has given a 'buy' call on Tata Communications and from the perspective of the next 12 months, it has set a target of Rs 2,200. Last seen, the counter was trading at Rs 1737.10. From the current price, the stock can get a strong return of over 26 per cent. 

The stock has jumped nearly 40 per cent in the last one year. However, if we talk about the long term, this stock has given returns of about 370 per cent in the last 5 years.

Tata Communications Share Price Target: Q4FY24 Results

Tata Communications posted about 11 per cent decline in the consolidated net profit to Rs 326.03 crore in the fourth quarter ending March 31, 2023. The company posted a profit of Rs 365.06 crore in the same period a year ago.

The consolidated income from operations increased marginally to Rs 4,586.66 crore during the reported quarter from Rs 4,263.03 crore in the March 2022 quarter.

The consolidated income from operations increased by 6.6 per cent to Rs 17,838.26 crore at end of 2022-23 from Rs 16,724.73 crore it posted at the end of 2021-22.