Why Tata Teleservices Shares Are At Upper Circuit Today

Tata Teleservices shares surged 10% on Thursday to hit the upper circuit at ₹67.45.

What Happened: The surge in the TTML share price came after a block deal of 10.79 lakh shares went down. The average price for the deal was 67.45 — a 10% premium over the stock’s last closing price of ₹61.35. The total value of the deal was ₹7.28 crore.

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The company just last month posted its earnings for the March quarter. The company’s total revenue jumped up marginally to ₹281.2 crore, compared to the ₹277.8 crore revenue it booked in the year-ago period. However, the company booked losses of ₹277.1 crore in the quarter ended March.

The stock has been struggling at the bourse recently. Since the start of the year TTML’s share price has slumped over 26%. In the past six months, TTML’s share price has gone down over 35%.

Price Action: TTML share price surged 10% to hit the upper circuit at ₹67.45.

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Posted In: EquitiesMarketsTata Teleservices