TTML Share Price drops by 5.25% to 76 rupees
Tata Teleservices (Maharashtra) Limited (TTML) stock price witnessed a sharp decline of around 6% on Wednesday, the third day of the week. The closing price of the share was 76 rupees, down by 5.25%. In the past few days, the share market had seen a surge in the value of TTML’s shares, which raised concerns among investors. The Bombay Stock Exchange (BSE) had also sought clarification from the company regarding the same.
BSE sought clarification from TTML
On June 13, 2023, BSE had sought clarification from TTML regarding the up and down movement of its shares. In response, TTML clarified that it immediately informs the exchange about any event or information as per the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. If there is any such event or information, it will be shared with the exchange. At present, TTML’s shares have given a negative return of around 43% over a year compared to the Sensex.
TTML’s Financial Performance
In the March quarter, TTML’s revenue was 280 crore rupees, while the net loss was 277 crore rupees. There has been a slight improvement in net loss compared to the same period last year. For the financial year 2022-23, the company’s revenue is expected to be 1,106.17 crore rupees and the net loss is expected to be 1,144 crore rupees.
Other Business News
In other business news, Adani Total Gas’s share price has dropped from 3,900 rupees to 655 rupees. Mutual funds have bought 3 lakh shares of the company at the current price. Meanwhile, KORE Digital IPO has listed at 201 rupees, giving an 11% premium to investors on the first day.
Conclusion
TTML’s shares have witnessed a significant decline, and investors are closely watching the company’s response to BSE’s clarification. The company’s financial performance in the past year has not been very encouraging. However, it remains to be seen how the company performs in the coming quarters.
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