Tata Teleservices (Maharashtra) was frozen at 10% upper circuit at Rs 6.64 at 14:13 IST on BSE after the company's board of directors proposed issue of bonus shares to non-promoters in order to comply with the minimum public shareholding requirement.
Meanwhile, the BSE Sensex was down 34.28 points, or 0.18%, to 19,189.
On BSE, 6.64 lakh shares were traded in the counter with pending buy orders of 18.54 lakh shares at maximum limit. The stock has an average daily volume of 7.50 lakh shares in the past one quarter.
The stock hit a high of Rs 6.64 and a low of Rs 6.07 so far during the day. The stock had hit a 52-week high of Rs 14.82 on 5 July 2012. The stock had hit a 52-week low of Rs 4.98 on 13 June 2013.
The stock had underperformed the market over the past one month till 18 June 2013, sliding 25.43% compared with the Sensex's 5.24% fall. The scrip had also underperformed the market in past one quarter, falling 33.19% as against Sensex's 0.36% fall.
The small-cap company has an equity capital of Rs 1897.20 crore. Face value per share is Rs 10.
More From This Section
Tata Teleservices (Maharashtra) (TTML) during market hours today, 19 June 2013 said that its board of directors has proposed issue of bonus shares with the promoter/promoter group forgoing their entitlement to the bonus shares in order to comply with the minimum public shareholding requirement. Promoters currently hold 77.21% stake in TTML (as per the shareholding pattern as on 3 June 2013).
TTML reported a net loss of Rs 115.23 crore in Q4 March 2013, lower than net loss of Rs 123.40 crore in Q4 March 2012. Net sales rose 3.3% to Rs 669.18 crore in Q4 March 2013 over Q4 March 2012.
TTML spearheads the Tata group's presence in the telephony sector in the telecom circles of Maharashtra (including Mumbai) and Goa.
Powered by Capital Market - Live News