Tata Teleservices soars over 1.100% in one year


However, the company in an exchange filing the same day said, “At this point, there is nothing more to disclose.”

Shares of Tata Teleservices Maharashtra (TTML) closed after reaching the upper circuit on Thursday, bringing the share price to 96.75 on BSE. The script hit the upper circuit for five consecutive sessions between November 18 and 25.

The stock has jumped over 1,100% in the past year, up from 7.8 in October 2020. The stock is up 75% in the current month itself. On November 10, the stock market asked the company for clarification on the development of the share price. However, the company in an exchange filing the same day said, “At this point, there is nothing more to disclose.”

ALSO READ  Sapphire Foods Shares Make Strong Market Debut; KFC, the Pizza Hut operator lists at 11% premium

The Sensex jumped 454.10 points or 0.7% to close at 58,795.09 on Thursday.

TTML recorded a net loss of 313.63 crore in the quarter ended September 2021, compared to a net loss of 318.54 crore in the previous quarter. The company, however, is confident it will meet the financial demands. The promoters of the company said they would take the necessary steps to organize themselves in the event of a cash shortage during the 12-month period from the balance sheet date. The company in its new avatar is called Tata Tele Business Services.

ALSO READ  Sebi issues consultation paper for companies seeking to raise funds through IPOs

Tata group companies have a 74.36% stake in the company, according to the latest shareholding model. Tata Teleservices holds 48.3% of the company’s capital, while Tata Sons and Tata Power hold 19.58% and 6.48% of the capital, respectively.

Get live stock quotes for BSE, NSE, US market and latest net asset value, mutual fund portfolio, check out the latest news on IPOs, top performing IPOs , calculate your tax using the income tax calculator, know the best winners, the best losers and the best equity funds in the market. Like us on Facebook and follow us on Twitter.

ALSO READ  Nifty could resume the uptrend above 18050; buy these 2 stocks to pocket good returns

The Bharat Express News is now on Telegram. Click here to join our channel and stay up to date with the latest news and updates from Biz.



Please enter your comment!
Please enter your name here