Tata Teleservices soars over 1,100% in one year

By: |
November 26, 2021 12:15 AM

The stock has surged over 1,100% in the last one year, from ₹7.8 in October 2020. The stock is up 75% in the ongoing month itself. On November 10, the exchange had sought clarification from the company on the movement in the stock price.

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

Shares of Tata Teleservices Maharashtra (TTML) closed after hitting the upper circuit on Thursday, taking the stock price to ₹96.75 on the BSE. The scrip hit the upper circuit for five consecutive sessions between November 18 and November 25.

The stock has surged over 1,100% in the last one year, from ₹7.8 in October 2020. The stock is up 75% in the ongoing month itself. On November 10, the exchange had sought clarification from the company on the movement in the stock price. However, the company in an exchange filing on the same day said, “At this stage, there is nothing further to disclose.”

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

TTML posted a net loss of ₹313.63 crore during the quarter ended September 2021, compared with a net loss of ₹318.54 crore during the preceding quarter. The company, however, is confident of meeting financial requirements. The promoters of the company said they will take necessary actions to organize for any shortfall in liquidity during the period of 12 months from the balance sheet date. The company in its new avatar is called Tata Tele Business Services.

Tata Group companies hold a 74.36% stake in the company, according to the latest shareholding pattern. Tata Teleservices holds a 48.3% stake in the company, while Tata Sons and Tata Power hold 19.58% and 6.48% stake, respectively.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Mcap of nine of top-10 most valued firms erode by over Rs 2.62 lakh crore, Bharti Airtel only gainer
2Targetted cryptocurrency attacks by cybercriminals to grow in 2022: Kaspersky
3FPIs net buyers in November; invest Rs 5,319 crore