The concerns about the growth and profitability of Tata Teleservices (NSE:TTML) remain consistent, resulting in a fall in its share prices. The company has seen its share price plunge to the lowest since November 2021. As of Thursday, May 18, 2023, TTML stock was trading at Rs.66.7, more than 77% lower than its highest point in FY 2022. Moreover, TTML has underperformed in Sensex and Nifty 50 also. In this article, we will discuss ttml share price trends in detail and assess whether you should buy, sell or hold your TTML shares.
Tata Teleservices Maharashtra Limited is an Indian company and a subsidiary of Tata Group. Known as Tata Tele Business Services, it offers IT solutions to individuals and firms. Its fibre optic cable spans more than 130 kilometres in India. Additionally, the company has an extensive portfolio of services in SAAS, security and marketing solutions.
Other subsidiaries of Tata Group, like Tata Motors, Tata Power, Tata Steel and Tata Consumer Services, are doing well with the country’s economic growth. Tata Motors gained an increase of 612% in its stock trading from its lowest point in 2019. Tata Consultancy stocks have soared by 150%, which is almost its all-time high. However, ttml share price is still due to have a pullback, despite a strong rebound from its lows in March.
Discussing the scenario of ttml share price
As the competition in the market is huge, TTML is under immense pressure at present. The company’s total revenue for the fourth quarter of 2022 has not grown, in fact, it has declined. The revenue for the same period in FY2021 was Rs.285 crore, which came down to Rs.284 crore in this financial year. Thankfully, the company has successfully cut costs to slash its losses down to Rs.279 crore from Rs.302 crore.
Whereas the revenue was Ra.832 crore, the total loss for nine months has been Rs.867 crore. Therefore, the accumulated loss has exceeded its reserves and paid-up capital. Liabilities have also exceeded assets. All these facts may sound disappointing to you, naturally provoking the thought of selling or not buying the TTML shares. The company’s performance in recent times regarding tata tele share price has left investors worried. The growing competition and substantial financial challenges have slowed TTML’s growth.
Those concerned about the share price of ttml should also know that Tata Group has indicated to organise any shortfall in liquidity. As per experts, it may cause further debt or dilute the shareholders.
Technical analysis of ttml share price nse
The company’s weak financials have kept its share price in a tailspin. Whereas the loss reduction is a good sign, a technical analysis of ttml share price nse
shows some key levels respected by the shares in the past. Rs.64.15 has been a support price level in history, but now it’s a resistance. Currently, the TTML stocks are trading at this price level and want a breakout.
According to the tata tele share price forecast by financial experts, the next resistance may be around Rs.72.
The rise and fall of TTML shares
The telecommunications sector company of the Tata Group, TTML, provides a wide range of collaboration, connectivity, security, cloud, IoT and marketing solutions. The midcap stock is trading at Rs.50 to Rs.60 range these days, with a 52-week high of Rs.210.40 and a 52-week low of 52.10.
ttml share price has fallen by 52% since the past year. But, due to its records of Robust returns and its parenting company being an Indian business giant like Tata Group, shareholders are always hopeful about TTML and keep a watch on the stock trading trends of the company.