Tata Teleservices is currently trading at Rs. 14.01, up by 0.32 points or 2.34% from its previous closing of Rs. 13.69 on the BSE.
The scrip opened at Rs. 14.00 and has touched a high and low of Rs. 14.45 and Rs. 14.00 respectively. So far 199288 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 23.50 on 25-Jul-2011 and a 52 week low of Rs. 13.60 on 13-Dec-2011.
Last one week high and low of the scrip stood at Rs. 14.95 and Rs. 13.60 respectively. The current market cap of the company is Rs. 2597.26 crore.
The promoters holding in the company stood at 77.72% while Institutions and Non-Institutions held 1.70% and 20.58% respectively.
Japanese giant NTT Docomo is eyeing to raise its stake in Indian mobile operator, Tata Teleservices (TTSL). The Japanese giant is set to discuss an option of increasing its stake to 35% in the next four months. NTT Docomo’s plan of hiking its stake in TTSL is part of two stage plan that allows the Japanese company to ramp up shares of TTSL if it meets certain performance parameters.
In 2008, NTT Docomo had bought a 26% stake in Tata Teleservices for $2.7 billion. At that time, to emerge as the largest shareholder in the TTSL, NTT Docomo was given two call options which would be available in March 2012 and two years later in 2014. However, in case TTSL is unable to achieve certain benchmarks, NTT Docomo can refrain from exercising both the options and sell the entire stake back to Tata in 2014. Further, these benchmarks are linked to the performance of Tata Teleservices.
The $83 billion Tata Group through multiple entities hold about 60% stake in TTSL, in which private equity investor Temasek and serial entrepreneur C Sivasankaran are minority investors with 7% and 6% stake each. But, if Docomo exercises the first option of increasing the stake to 35%, then it cannot force a buyback on Tatas two years later.
Tata Teleservices is a promoter of Tata Teleservices (Maharashtra), presently Tata Teleservices and NTT DOCOMO Inc holds 37.65% and 12.12% in Tata Teleservices (Maharashtra) respectively.
| Company Name | CMP |
|---|---|
| Bharti Airtel | 1733.70 |
| Vodafone Idea | 7.16 |
| Indus Towers | 339.60 |
| Tata Communications | 1576.35 |
| Bharti Hexacom Ltd. | 1441.40 |
| View more.. | |
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