TTML rises for 2nd straight day; stock up 7%

MUMBAI: Shares of Tata Teleservices (Maharashtra) were on the rise for the second straight session on Thursday after the telecom major along with Japanese firm NTT DoCoMo announced the launch of its GSM services.

The company said the GSM service by TTML, to be branded ���Tata-DoCoMo', would be commercially rolled out towards the end of this month in the southern region, followed by western and northern regions and would invest $2 billion by this fiscal to roll out operations across India.

NTT DoCoMo, which acquired a 26 per cent stake in Tata Teleservices for $2.7 billion last year, said yesterday that the company has no plans to raise its stake in the Indian joint venture.

Tata DoCoMo has received licences to operate GSM telecom services in 19 telecom circles and has also been allotted spectrum in 18 of these circles, barring Assam, North East, Jammu and Kashmir and Delhi.

At noon, the company���s shares was up 6.52 per cent at Rs 39.20 on the BSE after hitting a high of Rs 39.95 in early trade.