In the stock market rally of the last 1 year, the shares of many companies of Tata Group have shown strong growth. Among the names that are at the forefront, Tata Teleservices Maharashtra Limited (TTML) is also there.
Today, there is an upper circuit of 5 percent in the stock of Tata Teleservices (Maharashtra) Limited, a company operating in the telecom sector of Tata Group. The stock of the company has reached a price of Rs 164 in today’s trading. On Thursday, it closed at Rs 156. In the stock market rally of the last 1 year, the shares of many companies of Tata Group have shown strong growth. The names that are at the forefront of these are Tata Teleservices Maharashtra Limited (TTML). In the last 1 year, the stock of this company has given 690 percent return to the investors. During this, the share of Rs 21 has increased to Rs 164.
What is the latest trigger
The company has decided that it has withdrawn its decision to convert its AGR dues into equity. After this news, once again the shares of TTML have seen a rise. Since 3 days i.e. on 2nd, 3rd and 4th February, there is a continuous upper circuit of 5 percent in the stock. The company says that according to the calculation done by the company, the eligible interest amount for conversion is very less. Because of this the company has taken this decision. Let us inform that earlier the company had said that the AGR due would be converted into equity.
Loss in business but up in stock
Tata Teleservices Maharashtra is such a company of Tata Group, which is continuously incurring losses. The company had a loss of Rs 313.63 crore in the September quarter of the current financial year. The company has suffered continuous loss in business for the last 3 years. But its effect is not visible on the stock. The stock continues to rise steadily. The company’s stock has given returns of 270 percent in the last 6 months, 690 percent in 1 year and close to 2560 percent in 5 years. Talking about 5 years, the share price has increased from Rs 6 to Rs 164.
About the company’s shareholding
According to Trendline data, promoters’ stake in Tata Teleservices Maharashtra Limited is 74.4 percent as of the December quarter. The share of FIIs has increased from 0.2 per cent to 0.8 per cent in the December quarter. At the same time, mutual funds have also bought 0.2 percent stake in it in the December quarter. Tata Teleservices Maharashtra Limited is one of the leading companies in the connectivity and communication solutions market. The company provides services like connectivity, collaboration, cloud, security, IoT and marketing solutions to other companies.
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