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Home / Money / Personal Finance1 lakh investment in this stock became 6.37 lakh in 6 months. Details here
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Tata Tele Business Services Limited, formerly known as Tata Tele Services Limited, saw a sharp surge of 538% in stock prices in less than six month. This penny stock was priced at 12.55 on 20 May 2021, while as of today, it stands at 80.55. Riding high on this surge, investors increased their investment six times in this span.

Here is how:

If you had invested 50,000 in this stock on May 20 (when it was at 12.55), the corpus would be 3.18 lakh today. And if you would have invested 1 lakh that time, the same would become 6.37 lakh.

It, however, saw a slight correction in July when it dipped at 34.45. Following which, it remained at 35 to 37 range till October. It again saw a sharp rise after this period.

Even if you had invested 1 lakh on July 28 (when the stock was priced at 34.45), it would become 2.32 lakh by now. Meanwhile, a 50,000 investment would then grow to become 1.16 lakh. That means your money would have doubled in just over 3 months.

Tata Tele Business Services Limited
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Tata Tele Business Services Limited

In late May, reports suggested Tata Sons is reviving Tata Teleservices in a new avatar called Tata Tele Business Services (TTBS), which will cater to small and medium enterprises. The stock surged sharply right after that.

In 2020, Tata Sons had written off its investment of 28,600 crore in Tata Tele. Its consumer mobile operations transferred to Bharti Airtel in July 2019, Mint had reported earlier.

The recent report from Care Rating has reaffirmed its rating on its long-term and short-term bank facility and instruments on the company. The rating agency said the continuous support from its promoter Tata Sons indicates that it will take all necessary actions to organize any shortfall in liquidity for the ensuing 12 months. CARE also noted the improvement in operating performance of the entity in FY21 post demerger of consumer mobile business, it had also said.

 

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