Tata Teleservices Limited, together with its subsidiary Tata Teleservices (Maharashtra) Limited, stands as a leading enabler of digital connectivity and cloud solutions for enterprises. Operating under the brand name Tata Tele Business Services (TTBS), the company offers a comprehensive portfolio of Information and Communication Technology (ICT) solutions tailored for businesses across India.
Tata Tele Business Services provides an extensive range of services, including connectivity, collaboration, cloud solutions, Software as a Service (SaaS), security, Internet of Things (IoT), and various marketing solutions. The brand’s pioneering spirit of innovation and unique customer value proposition enables enterprises to be resilient, maintain business continuity, and achieve growth in a flexible, scalable, and secure manner.
Emphasizing a progressive approach, Tata Tele Business Services partners with businesses as their trusted technology enabler. The company empowers businesses with a wide array of connectivity and digital solutions, aiming to democratize cutting-edge technology. By providing impactful solutions, Tata Tele Business Services significantly enhances the competitiveness of enterprises, enabling them to become future-ready and “Do Big.”
History of Tata Teleservices (Maharashtra) Limited
Tata Tele (Maharashtra) Limited (TTML) was established on March 13, 1995, originally named Hughes Ispat Limited. The company rebranded to Hughes Tele.com (India) Limited on April 26, 2000, to highlight its focus on broadband services. It adopted its current name, Tata Teleservices (Maharashtra) Limited, on February 13, 2003, becoming a subsidiary of Tata Teleservices Limited. Notable milestones include the introduction of a pay-per-use mobile voice calling model in 2009 and being the first private telecommunications operator to launch 3G services in India in November 2010. The company operates a vast fiber optic network spanning 132,000 kilometers across 70 cities and collaborates with around 1,800 partners nationwide. In 2008, TTML launched CDMA mobile services targeting youth in partnership with the Virgin Group.
Facing financial challenges, Tata Teleservices announced an exit from the mobile network division in August 2017, selling the unit to Bharti Airtel in a debt-free, cash-free deal. By November 2017, customers transitioned to the Airtel network under an Intra Circle Roaming arrangement. The consumer mobile businesses of Tata Docomo, Tata Teleservices (TTSL), and TTML were merged into Bharti Airtel by July 1, 2019. Despite these changes, Tata Teleservices continues to operate its enterprise, fixed line, and broadband businesses, along with its stake in Viom Networks. The merger process received final approval from NCLT Delhi on January 17, 2019, and regulatory approvals from the Department of Telecom (DoT) and the Competition Commission of India (CCI).
Shareholding Patterns of Tata Teleservices (Maharashtra) Limited
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | |
| Promoters + | 74.36% | 74.36% | 74.36% | 74.36% | 74.36% |
| FIIs + | 2.16% | 2.03% | 2.23% | 2.26% | 2.46% |
| DIIs + | 0.04% | 0.05% | 0.06% | 0.05% | 0.06% |
| Public + | 23.43% | 23.56% | 23.35% | 23.33% | 23.12% |
| No. of Shareholders | 8,37,251 | 8,27,582 | 8,21,354 | 8,08,618 | 8,20,372 |
The shareholding pattern of Tata Teleservices (Maharashtra) Limited (TTML) remained relatively stable from March 2023 to March 2024. During this period, the promoters consistently held a significant majority of 74.36% of the company’s shares, reflecting strong promoter confidence and control. Foreign Institutional Investors (FIIs) showed a slight increase in their holdings, rising from 2.16% in March 2023 to 2.46% by March 2024, indicating growing interest from foreign investors. Domestic Institutional Investors (DIIs) maintained a minimal presence, with their holdings fluctuating marginally between 0.04% and 0.06%. Public shareholding experienced a slight decline, decreasing from 23.43% to 23.12%, suggesting a modest shift of shares towards institutional investors. The number of shareholders showed minor fluctuations, starting at 837,251 in March 2023, slightly decreasing to 808,618 by December 2023, and then increasing again to 820,372 by March 2024. This dynamic shareholder base, along with stable promoter holding and gradual FII interest, underscores TTML’s steady and controlled shareholding structure.
How to Purchase Tata Teleservices (Maharashtra) Limited Shares in India?
Below are the trading platforms that you can use to purchase Tata Teleservices (Maharashtra) Limited shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
Tata Teleservices (Maharashtra) Limited Share Price Prediction: 2024 - 2030
Tata Teleservices (Maharashtra) Limited Share Price Prediction 2024
| When | Maximum Price | Minimum Price |
| July 2024 | 87.60 | 76.18 |
| August 2024 | 91.11 | 79.22 |
| September 2024 | 94.75 | 82.39 |
| October 2024 | 92.89 | 80.78 |
| November 2024 | 96.61 | 84.01 |
| December 2024 | 97.58 | 84.85 |
Tata Teleservices (Maharashtra) Limited is expected to show a consistent upward trend. In July 2024, the maximum price is anticipated to reach ₹87.60, while the minimum price is forecasted at ₹76.18. Moving into December 2024, the prices are expected to further increase, with the maximum price projected at ₹97.58 and the minimum price at ₹84.85. These projections indicate a strong performance for Tata Teleservices (Maharashtra) Limited, reflecting positive market sentiment and potential growth throughout the year.
Tata Teleservices (Maharashtra) Limited Share Price Target 2025
| When | Maximum Price | Minimum Price |
| January 2025 | 98.55 | 75.81 |
| February 2025 | 99.55 | 76.58 |
| March 2025 | 101.64 | 78.18 |
| April 2025 | 100.63 | 77.41 |
| May 2025 | 97.70 | 75.15 |
| June 2025 | 102.10 | 78.54 |
| July 2025 | 100.10 | 77.00 |
| August 2025 | 103.19 | 79.38 |
| September 2025 | 104.43 | 80.33 |
| October 2025 | 107.14 | 82.42 |
| November 2025 | 109.82 | 84.48 |
| December 2025 | 114.77 | 88.28 |
In 2025, Tata Teleservices (Maharashtra) Limited is expected to demonstrate a continuous upward trend throughout the year. As we step into January 2025, the maximum price is forecasted to be ₹98.55, with the minimum price at ₹75.81. This trend is anticipated to continue, and by December 2025, the maximum price is expected to rise to ₹114.77, with the minimum price projected at ₹88.28.
Tata Teleservices (Maharashtra) Limited Share Price Prediction 2026
| When | Maximum Price | Minimum Price |
| January 2026 | 118.21 | 90.93 |
| February 2026 | 115.25 | 88.66 |
| March 2026 | 117.56 | 90.43 |
| April 2026 | 119.96 | 92.27 |
| May 2026 | 118.77 | 91.36 |
| June 2026 | 121.74 | 93.65 |
| July 2026 | 119.35 | 91.81 |
| August 2026 | 123.04 | 94.65 |
| September 2026 | 125.50 | 96.54 |
| October 2026 | 128.77 | 99.05 |
| November 2026 | 131.99 | 101.53 |
| December 2026 | 135.29 | 104.07 |
Tata Teleservices (Maharashtra) Limited Share Price Target 2027
| When | Maximum Price | Minimum Price |
| January 2027 | 136.64 | 105.11 |
| February 2027 | 140.14 | 107.80 |
| March 2027 | 145.61 | 112.01 |
| April 2027 | 142.75 | 109.81 |
| May 2027 | 138.60 | 106.61 |
| June 2027 | 144.83 | 111.41 |
| July 2027 | 141.99 | 109.22 |
| August 2027 | 146.38 | 112.60 |
| September 2027 | 151.51 | 116.54 |
| October 2027 | 155.45 | 119.57 |
| November 2027 | 159.33 | 122.56 |
| December 2027 | 163.32 | 125.63 |
Tata Teleservices (Maharashtra) Limited Share Price Prediction 2028
| When | Maximum Price | Minimum Price |
| January 2028 | 166.58 | 128.14 |
| February 2028 | 170.85 | 131.43 |
| March 2028 | 177.52 | 136.55 |
| April 2028 | 174.04 | 133.87 |
| May 2028 | 168.97 | 129.97 |
| June 2028 | 176.57 | 135.82 |
| July 2028 | 173.11 | 133.16 |
| August 2028 | 178.46 | 137.28 |
| September 2028 | 184.71 | 142.08 |
| October 2028 | 189.51 | 145.78 |
| November 2028 | 194.25 | 149.42 |
| December 2028 | 199.10 | 153.16 |
Tata Teleservices (Maharashtra) Limited Share Price Prediction 2029
| When | Maximum Price | Minimum Price |
| January 2029 | 203.09 | 156.22 |
| February 2029 | 208.29 | 160.23 |
| March 2029 | 216.42 | 166.47 |
| April 2029 | 212.17 | 163.21 |
| May 2029 | 205.99 | 158.46 |
| June 2029 | 215.26 | 165.59 |
| July 2029 | 211.04 | 162.34 |
| August 2029 | 217.57 | 167.36 |
| September 2029 | 225.18 | 173.22 |
| October 2029 | 231.04 | 177.72 |
| November 2029 | 236.82 | 182.17 |
| December 2029 | 242.74 | 186.72 |
Tata Teleservices (Maharashtra) Limited Share Price Target 2030
| When | Maximum Price | Minimum Price |
| January 2030 | 247.59 | 190.45 |
| February 2030 | 253.94 | 195.34 |
| March 2030 | 263.84 | 202.96 |
| April 2030 | 258.67 | 198.98 |
| May 2030 | 251.14 | 193.18 |
| June 2030 | 262.44 | 201.87 |
| July 2030 | 257.29 | 197.92 |
| August 2030 | 265.25 | 204.04 |
| September 2030 | 274.53 | 211.18 |
| October 2030 | 281.67 | 216.67 |
| November 2030 | 288.71 | 222.09 |
| December 2030 | 295.93 | 227.64 |
Tata Teleservices (Maharashtra) Limited is anticipated to show a significant upward trend throughout the year. As we step into January 2030, the maximum price is forecasted to be ₹247.59, with the minimum price at ₹190.45. This positive trajectory is expected to continue, and by December 2030, the maximum price is projected to reach ₹295.93, with the minimum price at ₹227.64.
Financial Condition of Tata Teleservices (Maharashtra) Limited: Last 5 Years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 1,078 | 1,044 | 1,094 | 1,106 | 1,192 |
| Expenses + | 656 | 555 | 626 | 614 | 664 |
| Operating Profit | 422 | 489 | 468 | 492 | 527 |
| OPM % | 39% | 47% | 43% | 45% | 44% |
| Other Income + | -2,396 | -756 | 17 | 11 | 16 |
| Interest | 1,545 | 1,561 | 1,539 | 1,502 | 1,622 |
| Depreciation | 195 | 169 | 160 | 147 | 150 |
| Profit before tax | -3,714 | -1,997 | -1,215 | -1,145 | -1,228 |
| Tax % | 0% | 0% | 0% | 0% | 0% |
| Net Profit + | -3,714 | -1,997 | -1,215 | -1,145 | -1,228 |
| EPS in Rs | -19 | -10.21 | -6.22 | -5.86 | -6.28 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
From March 2020 to March 2024, the company’s financial performance has exhibited notable fluctuations. Sales have increased from ₹1,078 crore to ₹1,192 crore, reflecting steady revenue growth, while expenses rose from ₹656 crore to ₹664 crore. Despite the higher expenses, operating profit improved from ₹422 crore to ₹527 crore, maintaining a robust Operating Profit Margin (OPM) that peaked at 47% in March 2021 before settling at 44% in March 2024. However, other income was highly volatile, with significant negative impacts in March 2020 (-₹2,396 crore) and March 2021 (-₹756 crore), stabilizing to modest positives thereafter. Interest expenses remained relatively stable, ranging from ₹1,545 crore to ₹1,622 crore, and depreciation slightly decreased from ₹195 crore to ₹150 crore. The company continued to incur losses before tax, though these narrowed from -₹3,714 crore to -₹1,228 crore, with net losses following a similar trend, reducing from -₹3,714 crore to -₹1,228 crore. Earnings Per Share (EPS) improved but remained negative, indicating ongoing profitability challenges. No dividends were paid during this period, as reflected by a consistent 0% dividend payout, likely to retain earnings and strengthen financial stability. Overall, while the company demonstrated growth in sales and operational efficiency, it continued to face significant financial hurdles, particularly in achieving profitability.
FAQs
What is the current market capitalization of Tata Teleservices (Maharashtra) Limited?
Tata Teleservices (Maharashtra) Limited’s current market capitalization stands at a Strong ₹15,897 crore.
What are the projected share price targets for Tata Teleservices (Maharashtra) Limited in 2024?
Tata Teleservices (Maharashtra) Limited’s share price targets for 2024 range from a promising ₹76.18 to an optimistic ₹97.58, indicating strong potential for growth and investor interest throughout the year.
What is the forecasted share price range for Tata Teleservices (Maharashtra) Limited in 2030?
Tata Teleservices (Maharashtra) Limited’s share price is projected to soar from ₹190.45 to ₹295.93 in 2030, suggesting substantial growth opportunities and market optimism.
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Conclusion
In conclusion, Tata Teleservices (Maharashtra) Limited is poised for notable growth and market success. The company’s steady sales increase, operational effectiveness, and stable shareholding structure, combined with rising interest from foreign investors, establish TTML as a formidable player in the telecommunications and digital solutions industry. By prioritizing innovation and maintaining a commitment to delivering value to its customers, TTML is well-prepared to seize future opportunities, promising significant returns for its investors.
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