Meanwhile, the S&P BSE Sensex was up 51.65 points, or 0.28%, to 18,770.94.
On BSE, 7.85 lakh shares were traded in the counter as against an average daily volume of 8.21 lakh shares in the past one quarter.
The stock hit a high of Rs 7.50 and a low of Rs 6.95 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 20 June 2013, sliding 24.74% compared with the Sensex's 7.44% fall. The scrip had also underperformed the market in past one quarter, falling 15.21% as against Sensex's 0.87% fall.
The small-cap company has an equity capital of Rs 1897.20 crore. Face value per share is Rs 10.
Shares of Tata Teleservices (Maharashtra) (TTML) have been on a roll recently, surging 32.01% in six trading days to Rs 7.30 on 20 June 2013 from a recent low of Rs 5.53 on 12 June 2013. The rally caught momentum after the company during market hours on Wednesday, 19 June 2013 said that its board proposed to issue bonus shares with the promoter/promoter group forgoing their entitlement to the bonus shares in order to comply with the minimum public shareholding requirement as stipulated under the Securities Contracts (Regulations) Rules, 1957, as amended.
Promoters currently held 77.21% stake in TTML (as per the shareholding pattern as on 3 June 2013).
Gains were also triggered on reports that a government panel has recommended a major liberalisation of the foreign direct investment (FDI) regime, including raising the FDI limit to 100% from 74% in telecom.
Telecom regulator Telecom Regulatory Authority of India (TRAI) said on Monday, 17 June 2013 it has reduced ceilings for national roaming calls and SMS and instituted a new regime for providing flexibility to telecom service providers to customise tariffs for national roamers through special tariff vouchers (STVs) and combo vouchers. TRAI has also mandated two types of free national roaming plans to be provided by all telecom service providers.
As per the latest (TRAI) mandate, outgoing local call charges, while on roaming, will be capped at Rs 1 per minute from Rs 1.40 earlier, while outgoing STD charges, while on national roaming, have been capped to Rs 1.50 from Rs 2.40 per minute earlier. The ceiling tariffs for incoming calls while on national roaming have been reduced from Rs 1.75 per minute to 75 paise per minute, TRAI said. Outgoing local SMS-es will cost Rs 1, while outgoing STD SMS will cost Rs 1.50. Incoming SMS will remain free of charge. The changes will be effective from 1 July 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.
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