Shares of Tata Teleservices (Maharashtra) (TTML), Jet Airway (India), and Videocon Industries are among the seven companies whose share prices have more-than-double in the past one month on the BSE. Other companies whose share prices have increased over 100 per cent in one month include Saven Technologies, Sulabh Engineers & Services, Noida Toll Bridge Company, and Sagar Productions.
Except, TTML, the remaining six stocks traded under T, X, and Z group category on the BSE. Shares traded under these categories are settled on a trade-to-trade (T2T) basis. Stocks classified under the T2T category cannot be traded on an intraday basis and traders or investors purchasing or selling these shares need to take delivery by paying the full amount. Stocks clubbed in the ‘Z’ category are those which fail to comply with the exchange’s listing requirements or may have failed to redress investor complaints.
TTML, the top gainer among the list, has zoomed 192 per cent to Rs 8.62 from Rs 2.95 on the BSE. The stock of the Tata group telecom services company was locked in the upper circuit for the 12th straight trading day on the BSE. Today, the counter has seen an over five-fold jump in trading volumes. A combined around 30 million equity shares had already changed hands and there were pending buy orders for 5.13 million shares on the BSE and NSE, the exchange data shows.
According to media reports, the Tata group is looking at reviving Tata Teleservices by taking the latter’s technical expertise and enterprise solutions for its SuperApp, which is being built. The Tata SuperApp is expected to bring the entire group’s products as well as services under one platform and enable sales to consumers directly. The SuperApp is targeted for launch by December 2020, the report suggests.
Meanwhile, the board of TTML is scheduled to meet on Thursday, November 5, 2020, to consider financial results for the quarter and half year ended September 30, 2020.
Shares of Jet Airways (India), too, hit a fresh 52-week high of Rs 71.85 after hitting the 5 per cent upper circuit on the BSE today. The stock has gained 155 per cent in one month from the level of Rs 28.15 as the company's committee of creditors (CoC) approved the resolution plan of the consortium of Kalrock Capital–Murari Lal Jalan on October 17, 2020.
Videocon Industries was locked in the upper circuit of 5 per cent at Rs 4.42, gaining 104 per cent in one month from the level of Rs 2.17 on the BSE. The stock of consumer durables company was locked in upper circuit for the nine straight trading days.
According to a Press Trust of India (PTI) report, the Dhoot family has offered to pay Rs 30,000 crore to lenders to settle their outstanding loans and pull out 13 Videocon group companies from the insolvency proceedings. A proposal for paying the amount has been forwarded to the Committee of Creditors (CoC) of Videocon Industries, Venugopal Dhoot told PTI. CLICK HERE TO READ FULL REPORT
|TATA TELE. MAH.||8.62||2.95||192.2|
|PVV INFRA LTD||9.27||5.30||74.9|