TTML Share Price Soars by 8% to Rs. 91
📈 Tata TeleServices Maharashtra Limited’s share price surged by 8% on Thursday, reaching Rs. 91. The company’s shares were trading at a 52-week high of Rs. 109.10 on September 15, 2023. On the other hand, the 52-week low for the company’s shares was Rs. 49.80. On Thursday, March 7, 2024, TTML’s share closed at Rs. 89.80, marking a 7.74% increase.
Recent Decline Followed by a Recent Surge
😟 Over the past six months, TTML’s shares have been witnessing a steady decline. However, in the past few days, there has been a noticeable uptick in the company’s share price. Promoters hold a 74.36% stake in TTML, with public investors owning the remaining 25.64%. On Monday, March 11, 2024, the share was trading at Rs. 88.10, reflecting a 2.09% decrease.
Tata Sons and Tata TeleServices’ Stake in TTML
📊 In the December quarter, Tata Sons held a 19.58% stake in TTML with 38,27,59,467 shares, while Tata TeleServices had a 48.30% stake with 94,41,74,817 shares. Recently, Tata Sons was classified as a non-banking financial company by the Reserve Bank of India, mandating its listing on stock exchanges by September 2025. This has led to a significant increase in turnover for companies where Tata Sons holds a stake.
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