TTML Share Price Hits Lower Circuit with 2.13% Drop

On Thursday, Tata Teleservices (Maharashtra) Ltd (TTML) was in the spotlight. On November 28, 2024, on the NSE, TTML share price opened at ₹81.50, slightly down from its previous close of ₹82.65. At 10:18 AM, the share price of TTML was trading at ₹80.89, down by 2.13%.

No Bank Guarantees for Telecoms

On November 25, 2024, the Union Cabinet took a major decision, eliminating the requirement for telecom companies to submit large bank guarantees (BGs) for past spectrum purchases.

This move is expected to provide substantial relief to telecom players, including TTML, as it will waive bank guarantees related to spectrum purchases made up to 2022. The telecom sector collectively owes over ₹30,000 crore in BGs to the government, and this waiver could provide a much-needed financial cushion to the players.

Q2 FY 2025 Financial Highlights

In terms of financial performance, TTML reported its Q2 FY 2025 results with total income reaching ₹345.03 crore, up from ₹288.62 crore in Q2 FY 2024. However, the company posted a loss after tax of ₹330.39 crore for Q2 FY 2025, compared to a slightly smaller loss of ₹310.23 crore in Q2 FY 2024.

About Tata Teleservices (Maharashtra) Ltd

Tata Teleservices Ltd is involved in the business of Wired and wireless telecommunication activities. The company holds a Unified License with Access Service Authorisation in Maharashtra and Goa and also in the Internet Service Provider Category. The company is focused on offering various wireline data, voice, and managed telecom services.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.