52-Week High After Upper Circuit: This Low-Price Tata Group Stock Attracted Heavy Volumes on Friday; Keep This on Your Radar!
The company’s shares have delivered an impressive return of over 30 per cent in just 1 month only.
Tata Teleservices Ltd is involved in wired and wireless telecommunication activities. The company holds a Unified License with Access Service Authorization in Maharashtra and Goa and operates as an Internet Service Provider. It focuses on providing a range of wireline voice, data, and managed telecom services.
On Friday, the company’s share hit a fresh 52-week high of Rs 111.48 per share on the BSE. Prior to this significant move, the shares had reached the 20 per cent upper circuit limit on July 18. During both days, a significant spurt in trading volumes was observed.
On Friday Tata Teleservices Ltd shares closed the day at around Rs 102.11 per share. The company’s current market capitalization stands at Rs 19961.77 crore. The stock has delivered a return of over 30 per cent in just 1 month.
As per the Quarterly Results, in the fourth quarter of FY24, Tata Teleservices Ltd recorded a revenue of Rs 323 crore. The operating profit for Q4 FY24 stood at Rs 143 crore. The net loss for Q4 FY24 was Rs 309 crore. Looking at the annual performance, the company generated a revenue of Rs 1192 crore in FY24, compared to Rs 1106 crore in FY23. The operating profit for FY24 was Rs 527 crore with a net loss of Rs 1228 crore.
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According to the shareholding pattern, promoters own 74.36 per cent, while 23.19 per cent is owned by public investors. FIIs and DIIs own a 2.38 per cent and 0.07 per cent stake in the company.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.