Tata Teleservices (Maharashtra) rose 0.65% to Rs 9.32 at 13:35 IST on BSE after its board approved the issue of Non-Convertible Debentures upto an amount of Rs 2500 crore, by way of private placement.
The company made the announcement after market hours yesterday, 29 January 2015.
Meanwhile, the S&P BSE Sensex was down 392.70 points or 1.32% at 29,289.07.
On BSE, so far 2.42 lakh shares were traded in the counter as against average daily volume of 7.25 lakh shares in the past one quarter.
The stock hit a high of Rs 9.50 and a low of Rs 9.10 so far during the day. The stock had hit a 52-week high of Rs 14.05 on 7 July 2014. The stock had hit a 52-week low of Rs 6.80 on 17 February 2014.
The stock had outperformed the market over the past one month till 29 January 2015, gaining 21.52% compared with Sensex's 8.34% rise. The scrip had, however underperformed the market in past one quarter, gaining 2.89% as against Sensex's 9.53% rise.
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The mid-cap telecom services provider has equity capital of Rs 1954.93 crore. Face value per share is Rs 10.
Tata Teleservices (Maharashtra) (TTML)'s board approved the issue of Non-Convertible Debentures upto an amount of Rs 2500 crore, in one or more tranches, by way of private placement, subject to the approval of shareholders of the company.
TTML reported net loss of Rs 169.08 crore in Q3 December 2014 compared with net loss of Rs 156.36 crore in Q3 December 2013. Total income from operations rose 8.26% to Rs 738.56 crore in Q3 December 2014 over Q3 December 2013. Tata Teleservices (Maharashtra) (TTML) continued its strategy of profitable revenue growth resulting in strong sequential EBITDA (earnings before interest, taxes, depreciation and amortization) growth as the company grew EBITDA by 11.5% in to Rs 156 crore in Q3 December 2014 over Q2 September 2014. The company showed a 4.7% growth in revenues at Rs 745 crore in Q3 December 2014 over Q2 September 2014.
TTML has made investments to improve 3G coverage and also recently upgraded its data network to ensure a better customer experience. TTML GSM Data traffic has grown by 70% in Q3 December 2014 over Q3 December 2013, the traffic growth coupled with price increases have led to Data revenues almost doubling yearly. In Q3 data revenues have grown 28% sequentially.
The company has recently announced in Mumbai the launch its new Advanced Photon Max Wi-Fi Duo. The latest in the brand's successful Photon series, the Photon Max Wi-Fi Duo ensures that internet users enjoy non-stop, high speed Wi-Fi connectivity on multiple devices without worrying about running out of battery.
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