Tata Communications shares gain as Macquarie sees stellar upside 

Shares of Tata Communications rose 4% in early deals on Wednesday after brokerage Macquarie disclosed its bullish outlook on the Tata Group stock.  The brokerage says the Tata Group stock is likely to double in valuation in three years. 
The company is enabling digital transformation by leveraging world's largest pipeline networks, it added.  

Tata Communications shares gained 3.85% to Rs 1795 per share on BSE. Market capitalisation of the firm rose to Rs 50,209 crore. The stock surged around 4% during the pre-market opening session.
Total 0.44 lakh shares of the firm changed hands amounting to a turnover of Rs 7.69 crore on BSE today. 

Tata Communications shares are trading higher than the 5 day, 10 day, 20-day, 30 day, 50-day, 100-day, 150 day and 200-day moving averages. 

Global brokerage CLSA has an outperform call on the stock. It has a price target of Rs 2100. 

 Another brokerage JM Financial has assigned a price target of Rs 2,030. 

The brokerage is of the view that Tata Communications' existing capabilities, particularly within its digital segment, provide it with a competitive edge. 

Tata Communications is engaged in the business of providing international telecommunications services. The company’s segments include Voice Solutions (VS), Data and Managed Services (DMS) and Real Estate (RE). The VS segment includes international and national long distance voice services. The DMS segment includes corporate data transmission services, virtual private network signaling and roaming services, television, and other network and managed services. The RE segment includes lease rentals for premises given on lease and does not include premises held for capital appreciation.