Tata Teleservices’ shares up on report that Tata group lowers offer for DoCoMo stake in JV

Tata Teleservices shares surged 20 per cent to three-month high in afternoon trade on Monday after reports that Tata Group has lowered offer for DoCoMo stake in JV.

At 1.24 pm, the shares are up 20 per cent on BSe at price Rs 8.46 paise. On NSE, it is 19.86 per cent on RS 8.45 paise.

Tata group has lowered offer price to buy out NTT DoCoMo Inc’s 26.5 pct stake in their unlisted mobile phone JV Tata Teleservices, a business daily reported.

Tata Teleservices owns a 36.54 per cent stake in Tata Teleservices (Maharashtra), while DoCoMo owns 11.76 pct, according to BSE data.