Technical analyst Anu Jain has maintained 'buy' rating on Tata Communications Limited stock with targets of Rs 262 and 280.
Mr. Singh said that the stock can be purchased with a strict stop loss of Rs 233.
The stock of the company, on March 23, closed at Rs 245.95 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 354.30 and a low of Rs 195 on BSE.
Current EPS & P/E ratio stood at 1.77 and 135.49 respectively.
On Wednesday, Tata Comm came forth as the largest gainer among index heavyweights, with the scrip gaining around 12% to end the day at Rs 246 on the BSE.
Market traders stated the increase in share price accompanied rating upgrade by a couple of broking companies that say that the contentious land matter may be resolved shortly.
The company's shares gained on expectations the long-pending matter of sale of 773 acres of excess land was near result.
The spare land is projected to be around Rs 14,300 crore.
The land in query came in Tata Communications' custody when the Tata Group purchased a majority holding in the former avatar of the company - Videsh Sanchar Nigam Ltd - in the year 2002, as part of the then administration's divestment plan.
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