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Tata Teleservices, one of the first to start wireless telephony services in India, becomes cash burner for group
Ambuja Cement, Nestle India and Veritas to announce December quarter results today.
Tata Teleservices (Maharashtra) on Tuesday reported widening of losses to about Rs 302 crore for the quarter ended December 2021 compared to the year-ago period.
The stock of Tata Group telecom services provider tanked 51% after the company on January 10, 2022 announced its decision to convert interest related to AGR dues of Rs 850 crore into equity.
TTML said it has decided not to opt for conversion of interest related to AGR dues into equity
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The average price of the company's shares as per the calculation method provided in the DoT Communication works out to be around Rs 41.50 per share, subject to final confirmation by the DoT.
The stock hit a new high of Rs 264, and was locked at the 5 per cent upper limit. It has zoomed whopping 14,567 per cent from levels of Rs 1.80 in March 2020.
Telecom services provider Tata Teleservices (Maharashtra) zoomed 2,778%, while auto components maker Automotive Stampings & Assembles has surged 2,476% in the past one year.
Vodafone Idea can jump up to 40% from current levels, while Bharti Airtel may see a 6 per cent rise.
Unless there is not a volume-based selling, these stocks could jump as high as 27% in no time.
The Tata Group telecom services stock hit a new high of Rs 129.45, has been nearly doubled or up 97 per cent from level of Rs 65.70 on November 12, 2021
Under the current circumstances, the market participants have become cautious and are seeking opportunities in the safe bets
The stock locked in upper circuit of 5% at Rs 8.22, zoom 104% from Rs 4.02 on October 11, 2017 against 4.5% rise in Sensex.
The company posts a net loss of Rs 175.7 crore in the year-ago period