The shares of Tata Group’s subsidiary company TTML have been falling continuously for the past few days. This is the same stock, which has made people very rich. However, now he seems to be doing the same pauper. Let us tell you that in the last three days, this stock has fallen by more than Rs 40. Now its price has gone from Rs 290.15 to Rs 248.85 now. TTML is a subsidiary of Tata Teleservices.
According to the report, it closed at 290.15 on the first day of the week and after three days it has declined significantly. Let us tell you that this stock had given a bumper return of 2830 percent in one year. If seen at the end of December itself, since then it has gained a lot of momentum, but recently it has broken around Rs 42.
Late last year it was hitting the upper circuit almost everyday. It closed at Rs 154.10 on 23 December and reached Rs 290.15 on 10 January this year. In the meantime, people have benefited a lot from it. According to the report, investors have got a return of 188 percent from this.
The question here is, why is the stock giving so much profit going down? To this, Tata Teleservices in Maharashtra had said that it would convert interest related to Adjusted Gross Revenue (AGR) arrears into equity. With this, the government’s stake in the company can be around 9.5 percent. The Net Present Value (NPV) of interest is about Rs 850 crore, said the information received by the stock exchange. This estimate is subject to confirmation by the Department of Telecommunications. By converting the interest into shares, the government’s stake in the company would be 9.5 per cent. It was said that only after this the bad days of this stock started.
first published:Jan. 14, 2022, 3:35 p.m.