Tata Teleservices shares have seen a significant surge of over 13% in intraday trading, making it their largest gains in three months. The stock has been on a remarkable rally, with gains of nearly 17% over the past three sessions, driven by a substantial increase in trading volumes.
The positive sentiment surrounding the stock is a result of a recent Supreme Court ruling that favors telecom operators, allowing them to claim central value-added tax (Cenvat) credits on duties paid for essential infrastructure components. This ruling has contributed to the upward trend in the stock's performance.
Today, there has been a stark contrast in the number of shares traded, with approximately five crore shares changing hands, compared to the one-month daily average of 32 lakh shares. As of 1:27 PM, Tata Teleservices shares were trading at Rs 77.15 on the NSE, just below the day's high of Rs 78.20.