This Tata group stock has zoomed 37% in 2 days; hit 20-month high

Tata Teleservices (Maharashtra) hit a 20-month high of Rs 111.48, surging 14% amid heavy volumes in intra-day trade on Friday despite weakness in the broader market.

Shares of Tata Teleservices (Maharashtra) (TTML) hit a 20-month high at Rs 111.48, surging 14 per cent on the BSE in Friday’s intra-day trade amid heavy volumes. The stock of the Tata group telecom - cellular & fixed line services provider was quoting at its highest level since October 2022. In the past two days, the stock has rallied 37 per cent, while in the past five trading sessions, it has zoomed 50 per cent from a level of Rs 74.97 on July 11.

At 12:24 pm; TTML was trading 11 per cent higher at Rs 107.78, as compared to 0.50 per cent decline in the BSE Sensex. The average trading volumes at the counter jumped over six-fold. A combined 248.5 million shares representing 12.7 per cent of total equity of TTML changed hands on the NSE and BSE.

 

Tata Teleservices Limited along with its subsidiary TTML (Tata Teleservices) is a growing market leader in the Enterprise space. It offers a comprehensive portfolio of Connectivity, Collaboration, Cloud & SaaS, Security, and Marketing solutions for businesses in the country under the brand name Tata Tele Business Services (TTBS).

Tata Teleservices has an extensive, high quality and robust wireline network and offers its products and services in more than 60 cities across India. Tata Teleservices has one of the largest enterprise-focused teams in the industry with deep customer engagement and technology orientation offering focused sales and service experience to customers.

On Wednesday, July 17, TTML said fuelled by India's growing digital acceleration, small and medium Enterprises (SMEs) are rapidly leveraging Cloud for their competitive edge, according to a new ‘SME Digital Insights’ study by Tata Tele Business Services (TTBS) and Cyber Media Research (CMR). A significant 58 per cent of SMEs nationwide believe they have a high level of digital maturity and are at the forefront of this ongoing digital shift. In FY2024, a whopping 50 per cent of the surveyed SMEs are leveraging Cloud for their business expansion, TTML said in a statement.

The enterprise telecom market in India is characterised by rapid digital transformation, continued evolution of use cases for 5G technology, heightened focus on security and compliance, increasing adoption of cloud and managed services, demand for unified communication solutions, industry-specific requirements, and government-driven digital initiatives.

Meanwhile, large enterprises and SMEs both are driving digital transformation and leveraging telecom services to fuel their growth. Their specific needs, preferences, and adoption patterns vary based on their size, resources, and strategic priorities, TTML said in its FY24 annual report.

Businesses are expected to continue to invest in digital transformation to drive their business objectives of enhancing reach, streamlining operations, improving agility and security, the company said.

As India marches forward towards economic prosperity, the integration of technology into the core business of  SMEs holds the promise of achieving an inclusive and sustainable growth. To effectively navigate the prevalent technology trends and make full use of the business opportunities available, SMEs would require to make a sustained investment in building organisational capability to be able to then make the right technology choices, TTML’s management said.

With businesses expanding their digital presence and embracing remote work setups, security remains a top priority, driving an increase in the adoption of enterprise security solutions. Furthermore, the pursuit of omni-channel customer engagement, elevated experiences, and brand loyalty is spurring demand for advanced business communication and marketing solutions such as cloud communications and omnichannel platforms like WhatsApp for Business, TTML said in FY24 annual report.