Tata Teleservices Maharashtra Limited (TTML) shares have made its investors rich despite the quarterly loss and rising debt in the last eight months. Its shares have risen nearly 1,500% in the last eight months, as the company’s growth prospects are strong.
TTML’s share today surged to an all-time high of 44.60, or 2.75 per share on June 30, 2020. That is, it increased by 1521%. Since May 25, 2021, this stock has touched the upper circuit for 27 consecutive sessions and has gained more than 261% during this period. This is an increase of 461% year over year.
Let us tell you that for the financial year 2021, the firm had a total debt of $ 7 17,774.47 crore. According to a report in IT on May 25, Tata Sons is revamping Tata Tele Services in a new incarnation, Tata Tele Business Services (TTBS), which caters to small and medium enterprises. TTBS has launched Smartflow, a cloud-hosted communications platform targeting SMEs and a hybrid work culture where people work from home and far away. Smartflow is accessible through mobile phones and desktops.
The Business Standard report indicates that Tata Group is looking to revive Tata Tele Service by taking technical expertise and business solutions for its SuperApps. The app is likely to be launched by December of this year, with all of Tata Group’s products and services expected to be on one platform and enable direct sales to customers.
In 2020, Tata Sons has written off an investment of Rs 6,28,600 crore in Tata Tele. Its customers’ mobile operations were shifted to Bharti Airtel in July 2019. Care Ratings said its continued support from its pioneer Tata Sons indicates that it will take all necessary steps to address any shortage of liquidity over the next 12 months. As of June 2019, Tata Sons had invested Rs 46,595.05 crore in TTML and its associate Tata Tele Services Limited (TTSL).
