Tata Teleservices stock hits 5% upper circuit, rises over 1,200% in 1 year

Shares of Tata Teleservices hit the 5 per cent upper circuit on Friday, and it had risen over 1,200 per cent in the past one-year period.

A year ago, shares of the company were at just Rs 13.

At 3.27 p.m. on Friday, it was locked in the upper circuit at Rs 167.

Mumbai-based Tata Teleservices, a subsidiary of the Tata Group, deals in broadband, telecommunications and cloud services.

Notably, the shares of the company hit the 5 per cent upper circuit in several instances in the recent past.

It is important to note that the rise in share prices of the company comes at a time when major Indian telecom operators have raised their prepaid tariffs by around 20 per cent. Also, the country preparing to launch the high-speed 5G network and augmenting the broadband Internet services in all villages are likely to have supported the telecom scrip.

 

--IANS

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