The shares of the telecom company jumped around 2 percent after announcing a partnership with Truecaller to offer a Verified Business Caller ID Solution.
With a market capitalization of Rs. 18,513 crores, the shares of Tata Teleservices (Maharashtra) started Thursday’s trading session on a higher note at Rs. 94.25 compared to the previous close at Rs. 93.45. The share hit a high of Rs. 96.80 making a gain of around 2 percent and currently trading at Rs. 94.90 apiece.
In an exchange filing the company announced a partnership under the brand name Tata Tele Business Services with Truecaller to offer a Verified Business Caller ID Solution. This collaboration introduces the innovative Verified Business Caller ID Solution to Tata Tele Business Services enterprise customers making secure and efficient communication by providing an additional layer of credibility, identity, and spam prevention.
The verified business tag helps to establish trust between enterprises and their customers, which is paramount in today’s digital era. Truecaller, through its Verified Business Caller ID solution, the company will enable users to instantly recognize verified business calls, displaying the brand and logo with precision.
The verification tags ensure that when businesses call their customers, a distinctive green badge accompanies the caller ID, reassuring the authenticity of the business.
The Verified Business tags will act as a safeguard against any unauthorized changes to essential brand information, protecting businesses from potential misuse and ensuring consistent brand representation.
Looking at the financial statement, the company’s revenue increased marginally by 0.3 percent from Rs. 286 crores in the June quarter to Rs. 287 crores during the September quarter. On the other hand, the company continues to report a net loss from Rs. 301 crores to Rs. 310 crores during the same timeframe.
According to the latest shareholding pattern, the Promoters have a 74.36 percent stake, the Public have 23.36 percent shares, FIIs have 2.23 percent holdings, and the remaining 0.05 percent shares are with the DIIs.
Headquartered in Mumbai, Tata Teleservices (Maharashtra) is a subsidiary of Tata Teleservices Ltd. The company is a leading enabler of digital connectivity and cloud solutions to enterprises. It offers a comprehensive portfolio of ICT solutions for businesses in India under the brand name Tata TeleBusiness Services.
Written By Vaibhav Patil
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