TTML soars on reports of likely merger with Airtel

Tata Teleservices (Maharashtra) rose 15.32% to Rs 8.43 at 14:14 IST on BSE on reports that the Tata group and Bharti Enterprises are in discussions to form an alliance across telecom and direct-to-home television businesses.

Meanwhile, the S&P BSE Sensex was up 26.05 points, or 0.08% to 31,395.39.

On the BSE, 35,000 shares were traded in the counter so far, compared with average daily volumes of 8.14 lakh shares in the past one quarter. The stock had hit a high of Rs 689.45 and a low of Rs 670.30 so far during the day. The stock hit a 52-week high of Rs 10.48 on 2 March 2017. The stock hit a 52-week low of Rs 5.42 on 30 September 2016.

The stock had outperformed the market over the past one month till 6 July 2017, rising 10.93% compared with 0.31% rise in the Sensex. The scrip had underperformed the market in past one quarter, falling 2.14% as against Sensex's 5.60% rise. The scrip had also underperformed the market in past one year, rising 1.53% as against Sensex's 15.32% rise.

The small-cap company has equity capital of Rs 1954.93 crore. Face value per share is Rs 10.

According to reports, Tata Group and Bharti Enterprises have held exploratory talks to evaluate a mega alliance involving their telecom, overseas cable & enterprise services, and direct-to-home TV businesses.

Discussions between both sides have revolved around a possible merger between Tata Teleservices, Tata Sky and Tata Communications with the Sunil Mittal-owned Bharti Airtel, which includes its wholly-owned DTH arm, reports added.

Telecom major Bharti Airtel was up 0.94% at Rs 385. Tata Communications was down 0.63% at Rs 671.40.

Tata Teleservices (Maharashtra) reported net loss of Rs 1365.57 crore in Q4 March 2017 as against net loss of Rs 21.98 crore in Q4 March 2016. Net sales declined 18.60% to Rs 596.53 crore in Q4 March 2017 over Q4 March 2016.

Tata Teleservices (Maharashtra) (TTML) spearheads the Tata group's presence in the telephony sector in the telecom circles of Maharashtra (including Mumbai). The company offers integrated telecom solutions to its customers across wireline and wireless networks on GSM, CDMA & 3G platforms.

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