Will history repeat again in this stock?

The stock was one of the best performers in 2021 and gave 2300 per cent returns during this period

Shares of Tata Teleservices (Maharashtra) has locked in 5 per cent upper circuit on Thursday as the share price rose to Rs 102.20.  The volume spurt in stock was 3.38 times indicating interest of investors in the stock of the company.  

The shares have been majorly up, due to better results posted by the firm in Q2FY23, as the sales grew by 3.3 per cent over the Q2FY22. The stock was one of the best performers in 2021 as it was in upward cycle for almost 9 months and gave 2300 per cent returns during this period. As it is locked in the upper circuit today, does it indicate a turnaround for the company’s share price?  

Tata Teleservice (Maharashtra) Ltd is the part of giant Tata group, which is known for the trust and safety of investments. The company is engaged in telephone wireline services and it holds a unified license with access service authorisation in Maharashtra and Goa. The company provides its services to almost 8 lakh subscribers and has an optical fibre network of 17000 km. The company maintains a healthy operating margin of 44 per cent and has been consistently reducing debt. Promoters' stake has been constant over the period and FII and DII are increasing the stake from past four quarters.  

Investors should keep an eye on this stock!