Tata Teleservices up 9 pc on BSE
Shares of Tata Teleservices surged 9 per cent on the BSE, a day after it said it will sell its entire stake in tower arm--21st Century Infra Tele Ltd--to telecom infrastructure firm QUIPPO-WTTIL for Rs 1,318 crore.
By PTI |
MUMBAI: Shares of Tata Teleservices on Thursday surged 9 per cent on the BSE, a day after it said it will sell its entire stake in tower arm--21st Century Infra Tele Ltd--to telecom infrastructure firm QUIPPO-WTTIL for Rs 1,318 crore.
Helped by the positive news, Tata stocks shot up 9.12 per cent to a high of Rs 25.70 in the morning trade on the Bombay Stock Exchange.
Similarly on the National Stock Exchange, the stock surged 9.32 per cent to a high of Rs 25.80.
A total of 36.11 lakh shares of Tata Teleservices (Maharashtra) changed hands on both the bourses in the early morning trade.
Yesterday, the company announced it had entered into a share purchase agreement with Quippo Telecom Infrastructure Ltd & Wireless TT Info Services Ltd for selling 100 per cent stake in tower arm -- 21st Century Infra Tele Ltd (TFCITL).
As part of this deal, TFCITL's entire portfolio of 2,535 towers in Mumbai, Maharashtra and Goa will be acquired by QUIPPO-WTTIL at an enterprise value of Rs 1,318 crore.
Helped by the positive news, Tata stocks shot up 9.12 per cent to a high of Rs 25.70 in the morning trade on the Bombay Stock Exchange.
Similarly on the National Stock Exchange, the stock surged 9.32 per cent to a high of Rs 25.80.
A total of 36.11 lakh shares of Tata Teleservices (Maharashtra) changed hands on both the bourses in the early morning trade.
Yesterday, the company announced it had entered into a share purchase agreement with Quippo Telecom Infrastructure Ltd & Wireless TT Info Services Ltd for selling 100 per cent stake in tower arm -- 21st Century Infra Tele Ltd (TFCITL).
As part of this deal, TFCITL's entire portfolio of 2,535 towers in Mumbai, Maharashtra and Goa will be acquired by QUIPPO-WTTIL at an enterprise value of Rs 1,318 crore.
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