Shares of this midcap company jumped around 2 percent in Thursday’s trading session after launching the Single Number Unified Solution for WhatsApp Business. In one year, the shares have delivered more than 50 percent returns to its shareholders.
With a market capitalization of Rs. 17,663 crores, the shares of Tata Teleservices (Maharashtra) Ltd started Thursday’s trading session on a higher note at Rs. 89.35 compared to its previous close of Rs. 88.90. During the trading session, the shares hit a high of Rs. 91.30, gaining around 2 percent and are currently trading at Rs. 90 apiece.
According to the exchange filing, the company’s subsidiary Tata Tele Business Services (TTBS), announced to offer of a Single Number Unified Solution for Toll-Free and WhatsApp businesses. A Unified Solution with a single number integrates TTBS Toll-free numbers with the enhanced user experience and extensive reach of the WhatsApp Business Platform. This empowers enterprises to engage with their customers seamlessly, ensuring impactful interactions.
Furthermore, the company mentioned that it has already onboarded businesses from the Retail, Manufacturing, Telecom, BFSI and Services sectors to enable enhanced customer experience.
Coming onto the company’s financial statements, the revenue increased marginally by 3 percent from Rs. 287 crores in the September quarter to Rs. 296 crores during the December quarter. On the other hand, the net losses of the company decreased from 310 crores to Rs. 308 crores during the same period.
Previously, last year, Tata Tele Business Services collaborated with Truecaller to offer a Verified Business Caller ID Solution. This collaboration introduced the 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.
According to the latest shareholding pattern, the Promoters have a 74.36 percent stake, the Public have 23.33 percent shares, FIIs have 2.26 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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