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.
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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.
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