Friday 3 January 2014

Tata Teleservices (Maharashtra) trades jubilantly on the bourses

Tata Teleservices (Maharashtra) is currently trading at Rs. 8.54, up by 0.90 points or 11.78% from its previous closing of Rs. 7.64 on the BSE.

The scrip opened at Rs. 8.20 and has touched a high and low of Rs. 8.77 and Rs. 8.20 respectively. So far 2319947 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 13.00 on 10-Jan-2013 and a 52 week low of Rs. 4.98 on 13-Jun-2013.

Last one week high and low of the scrip stood at Rs. 8.77 and Rs. 7.10 respectively. The current market cap of the company is Rs. 1651.91 crore.

The promoters holding in the company stood at 74.90% while Institutions and Non-Institutions held 0.85% and 24.25% respectively.

Vodafone is reportedly in talks with the Tata Group to buy its controlling stake in Tata Teleservices to create India’s largest telecom by subscribers.

If the transaction happens, the Vodafone-Tata Teleservices combine, as per November 2013 numbers, will become the country’s No. 1 player in terms of subscribers with 248 million customers, overtaking Airtel’s 196 million users.

Tata Teleservices provides CDMA based telephony services in 17 circles and GSM-based mobile telephony in 16 circles, excluding Mumbai and Maharashtra, where its associate listed company Tata Teleservices (Maharashtra) is the operator.

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