Tata Comm hits 52 week low; slips 8.7% in 4 days

15 Jun 2022 , 03:19 PM

Shares of Tata Communications slumped 8.7% in three trading sessions from its previous closing high of Rs 958.65 posted on 9 June 2022. The stock hit its 52-week low of Rs 856 today. The stock has lost 45% from its 52-week high of Rs 1,590 recorded on 17 January 2022. On the BSE, 1.17 lakh shares were traded in the counter so far compared with average daily volumes of 55,000 shares in the past two weeks. The stock has declined 9.74% in one month, while the benchmark Nifty 50 index has fallen 0.89% and the Sensex has lost 0.61% during the same period. On the technical front, the stocks daily RSI (relative strength index) stood at 29.843. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. In daily chart, the stock is trading below its 50,100 and 200 days simple moving average (SMA) placed at 1068.54, 1147.48 and 1262.81 respectively. These levels will act as crucial resistance zones in near term. Tata Communications is a global digital ecosystem enabler powering todays fast-growing digital economy in more than 190 countries and territories. Leading with trust, it enables digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services. The company reported a 22% rise in consolidated net profit to Rs 365 crore on a 4.7% increase in net sales to Rs 4,263 crore in Q4 FY22 over Q4 FY21. Powered by Capital Market – Live News