Tata Teleservices shares soared 38% in 3 days; time to book profit?

Tata Teleservices (Maharashtra) Ltd shares jumped 4.72 per cent in Friday's trade to hit a high of Rs 80.53, continuing their strong upmove for the third straight session. At the day's high level, the stock has zoomed 38.34 per cent in just three trading days.

The stellar performance of Tata Tele's counter came after a few news reports suggested that Tata Sons Ltd — the holding company of the $150 billion Tata Group — could infuse fresh capital into its loss-making telecom arm, Tata Teleservices Ltd (TTSL). Tata Teleservices (Maharashtra) is a subsidiary of TTSL. And, TTSL has to pay Rs 19,256 crore as adjusted gross revenue (AGR) along with other dues to the government by March 2026.

Earlier this week, the Supreme Court dismissed the petitions filed by telecom operators seeking a waiver on their long-standing AGR dues.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said the possibility of profit booking post the vertical surge should not be ruled out, adding that support could be seen in the 72-70 range, followed by the 66-65 zone in the near period. On the higher end, Krishan suggested that the next potential resistance will be seen around Rs 82-84 levels.

Ravi Singh, SVP - Retail Research at Religare Broking, said Rs 90 will act as a strong resistance for the stock while support will be at Rs 65.

The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 77.43. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The stock has a negative price-to-earnings (P/E) ratio of 11.78 against a price-to-book (P/B) value of (-)0.79. Earnings per share (EPS) stood at (-)6.54 with a return on equity (RoE) of 6.72. According to Trendlyne data, Tata Tele has a one-year beta of 1.4, indicating high volatility.

The scrip logged heavy trading volume on BSE along with the price action. Around 1.04 crore shares were last seen changing hands, much lower than the two-week average volume of 45.06 lakh. Turnover on the counter came at Rs 81.07 crore, commanding a market capitalisation (m-cap) of Rs 15,035.35 crore. As of March 2025, promoters held a 74.36 per cent in the Tata Group firm.