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Strong buying across the telecom sector, following the Union Cabinet's approval of the bank guarantee waiver for telcos, also boosted sentiment for Tata Teleservices.
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A close above 19,300 might confirm a bottom and the Nifty50 might be heading towards much higher levels.
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On October 25, Nifty50 dropped 160 points to 19,122, forming a bearish candlestick pattern on the daily charts with a bearish RSI crossover. BSE Sensex also declined by 523 points, closing at 64,049. Notably, Amber Enterprises India, Tata Teleservices, and Tata Elxsi stood out as stocks that defied the bearish trend.
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Tata Teleservices posted a net loss of Rs 277 crore for the three months to March, marginally down from the Rs 280 crore loss clocked in the corresponding quarter of FY23.
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The benchmark indices ended almost 2 percent lower on June 10; global cues are expected to influence market direction
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Tata Teleservices is consolidating in a triangle formation and has started moving higher after finding support near Rs 120. The RSI is neutral as it finds support near the 50-mark
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A meeting of board of directors of the company is scheduled to be held on February 8, 2022, to consider and approve the financial results for the quarter and nine months ended December 31, 2021.
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The scrip climbed to an all-time high of Rs 264 in early deals today from Rs 2.82 apiece hit on 16 October 2020 - a rise of 9262.50 percent.
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Over the last one month, Sensex has fallen over 5% from its all-time high closing of 61,765, which was on October 18. The midcap and small-cap indices have fallen 6% and 7%, respectively
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Total income was at Rs 267.2 crore in the last quarter of FY21, up nearly 2.3 percent from Rs 261 crore in the year-ago period, according to a regulatory filing.
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TTSL has in its appeal to the apex court said DoT’s demand “exceeds its deemed revenue and adds up to more than the book balance”
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Tata Sons, the parent company had invested Rs 46,595 crore into the telecom company from January 1, 2014, to December 31, 2019.
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DoT asked Bharti Airtel and Vodafone Idea to furnish the documents justifying the self-assessment.
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Tata executives have conveyed that they “do not have to pay anything more towards AGR". They added the calculations were confirmed via an internal assessment, which was further verified by an independent consultant
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With the government coming down heavily on telcos after the Supreme Court's rap, Bharti Airtel on Monday made payment of Rs 10,000 crore to the Department of Telecommunications towards statutory dues.
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The three companies are jointly liable to pay dues of over Rs 1 lakh crore, but they have informed the Department of Telecom (DoT) of making only partial payment, as per their representatives.
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Bharti Airtel on July 1 announced that the consumer mobile business of Tata Teleservices Ltd (TTSL) has now become its part.
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The TRAI noted that under normal circumstances, the balance prepaid amount would have been utilised by subscribers before porting out their mobile number.
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The company is also planning to raise additional funds by the issuance of securities and instruments
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The TDSAT on May 2 granted partial stay on a Rs 8,300-crore demand raised by the telecom department from Bharti Airtel for approving its merger with the consumer business of Tata Teleservices Ltd (TTSL).
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The TDSAT has directed 'the concerned authorities of the Union of India to take the merger of two companies and licence on record', subject to stay on one-time spectrum charges (OTSC) demand of around Rs 7,000 crore.
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DoT is said to be expecting the two operators to legally challenge the one-time spectrum charge
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Spectrum in 800 Mhz band can be used for 4G services but the airwaves held by Tata Teleservices across 15-16 circles can be used for 2G services as well and these frequencies cannot be transferred to Airtel, according to rules.
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The merger is subject to the approval of the Department of Telecommunications (DoT).
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Airtel had informed the DoT two weeks ago that it would take care of the payment, including licence fee, spectrum usage charge, and one-time spectrum charge
