Indiabulls Securities Ltd has maintained a ‘Hold’ rating on Tata Communications Limited (TCL) stock with a long term target above Rs 435.

TCL is now making cautious efforts to expand its market share, develop its business, regulates its asset quality and lay more pressure on customer service to perk up its profile and combat increasing competition.

According to Indiabulls, investors who have already purchased the stock can go long with the intention of making a big profit.

On the other hand, interested investors can purchase the stock on declines with a strict stop loss of Rs 340. The share price has seen a 52-week high of Rs 783 and a low of Rs 332 on BSE.

Any decline in the stock price corresponding to the broad market can be used as a prospect to take fresh exposure.

TCL has decided to strengthen its worldwide VPN service to Egypt through a partnership with TE Data S.A.E., a subsidiary of Telecom Egypt S.A.E. and Egypt's largest IP-based data communications carrier.

Tata Communications has launched the first ever offering to deliver both private and public Cisco Telepresence rooms to business houses throughout the world.

This innovative service will allow a broader ecosystem of connected rooms for enterprises and their partners.

The Company has also planned to acquire further 30% stake in Neotel from state-owned Eskom and Transnet.

Indian government is planning to divest its residual 26.12% stake in Tata
Communications Ltd.

Moreover, the company has signed up a MoU with Etisalat to offer up enterprise grade network services in UAE.

Tata Teleservices, a unit of TCL, has signed up a 50-50 JV deal with U.K.-based mobile operator, Virgin Mobile. The partnership is targeting the youth segment, which forms as much as 50% of the country’s total mobile market.