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.

Tata Teleservices (Maharashtra) down on overload

Tata Teleservices (Maharashtra) (TTML) slumped 4.38% to Rs 27.30 after NSE barred fresh F&O positions in the counter.NSE said the TTML counter in the derivatives segment had crossed 95% of the marketwide position limit.The TTML counter saw volumes of 42.31 lakh shares on BSE

After market hours on 15 May 2007, TTML posted lower net loss of Rs 51.38 crore in Q4 March 2007 versus net loss of Rs 104.51 crore in Q4 March 2006. Net sales rose 23.90% to Rs 380.43 crore (Rs 307.10 crore).

TTML's lowered its net loss to Rs 316.09 crore in the year ending March 2007 versus net loss of Rs 493.81 crore in FY 2006. Net sales edged higher by 28.50% to Rs 1406.98 crore (Rs 1095.13 crore).

The Tata group has raised its stake in TTML from 65% in March 2006 to 68% in March 2007.TTML, a subsidiary of the group's flagship telecom company Tata Teleservices (largest shareholder in the company with 39.48% holding), provides telecommunication services in Goa and Maharashtra including Mumbai.

Tata Tele launches Rs 1,699 phone

Telecom service provider, Tata Teleservices on Thursday launched a Rs 1,699 single-chip ultra thin cell phone to help expand its customer base rapidly.

Tata Group company hopes to sell three million such phones in the first year, Tata Teleservices CEO Darryl Green said."There is a robust demand. I am very bullish on the projections," he said, adding the mobile phone was mainly targeted at first-time buyers.The company expects "large momentum" building in March and April for the entry-level phone.

"We will double in size during the current financial year," Green said in a news conference, adding the company expects to have a customer base of 18 million by March-end.Officials of the company said the device has voice prompts in six languages -- English, Hindi, Tamil, Telugu, Kannada and Malayalam.The new cell phone will enable customers to avail double talk time for the first six months valid for one year from the date of activation, company officials said.