Tuesday, October 30, 2007

Tata Teleservices (Maharashtra) drops on NSE bar on derivatives

Tata Teleservices (Maharashtra) slipped 3.47% to Rs 45.85 after the National Stock Exchange (NSE) banned building fresh derivatives positions in the stock as the 95% market wide position was reached yesterday, 29 October 2007.

On BSE, 3.14 crore shares of the scrip were traded. The stock had an average daily volume of 1.43 crore shares on BSE in past one quarter.The scrip had touched a high of Rs 48.70, a record high for the stock. Its low for the day so far is at Rs 45.50. The stock had hit a 52-week low of Rs 16.75 on 13 December 2006.

The scrip had underperformed the market in the one month to 29 October 2007, gaining 9.20% as against the Sensex's 15.54% gain. It however outperformed the market in the past three months, soaring 69.64% against the Sensex's 31.13% rise.

The mid-cap telecom services provider’s equity share capital is Rs 1867.18 crore. Face value per share is Rs 10.Tata Teleservices (Maharashtra) (TTML), a subsidiary of the group's flagship telecom company Tata Teleservices (largest shareholder in the company with 38.44% holding), provides telecommunication services in Goa and Maharashtra including Mumbai.

The company reported a net loss of Rs 28.43 crore in Q1 June 2007 as against net loss of Rs 112.59 in Q1 June 2006. Net sales rose 21.47% to Rs 393.34 crore in Q1 June 2007 over Q1 June 2006.



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