 "Tata Tele faces winner's curse with aggressive bid")
Tata Teleservices (Maharashtra) is locked in 20% upper circuit at Rs 7.50 on BSE in early morning trade on back of heavy volumes.
The trading volumes on the counter more than doubled to 3.7 million shares changed hands against an average 1.6 million shares that were traded daily in past two weeks on BSE and NSE. At 09:30 am, there were pending buy orders for 5.77 million shares on both the exchanges.
According to PTI reports, Tata Teleservices made a payment of about Rs 2,300 crore to Department of Telecom (DoT) for airwaves it bought in the just-concluded auction.
Tata Teleservices bought airwaves worth Rs 4,619 crore in circles of Mumbai, Maharashtra, and Andhra Pradesh in 1800MHz band, during spectrum auctions which concluded recently. CLICK HERE TO READ FULL REPORT
In a filing to BSE on October 7, 2016, the company had said that "Tata Teleservices (Maharashtra) Ltd (TTML) has succeeded in winning 5MHz spectrum in 1800 MHz band each in Mumbai and Maharashtra service areas with bid values of Rs 2,446 crore and Rs 1,590 crore, respectively".
The trading volumes on the counter more than doubled to 3.7 million shares changed hands against an average 1.6 million shares that were traded daily in past two weeks on BSE and NSE. At 09:30 am, there were pending buy orders for 5.77 million shares on both the exchanges.
According to PTI reports, Tata Teleservices made a payment of about Rs 2,300 crore to Department of Telecom (DoT) for airwaves it bought in the just-concluded auction.
Tata Teleservices bought airwaves worth Rs 4,619 crore in circles of Mumbai, Maharashtra, and Andhra Pradesh in 1800MHz band, during spectrum auctions which concluded recently. CLICK HERE TO READ FULL REPORT
In a filing to BSE on October 7, 2016, the company had said that "Tata Teleservices (Maharashtra) Ltd (TTML) has succeeded in winning 5MHz spectrum in 1800 MHz band each in Mumbai and Maharashtra service areas with bid values of Rs 2,446 crore and Rs 1,590 crore, respectively".
