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Tata Teleservices shares locked at lower circuit on AGR interest conversion into equity

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Tata Teleservices shares locked at lower circuit on AGR interest conversion into equity

Shares of Tata Teleservices (Maharashtra) were locked in 5 per cent lower circuit on the BSE in Wednesday’s intraday trade after the company on Tuesday said it will opt for conversion of the interest related to AGR dues into equity. Tata Teleservices (Maharashtra), shares of which have surged nearly 3,000 % in the last one year, informed that post-conversion, the government holding is expected to be about 9.5 per cent in the company. 

The net present value (NPV) of this interest is expected to be nearly Rs 850 crore as per the company’s best estimates, subject to confirmation by the Department of Telecom, it said in a regulatory filing. 

At 9.30 am, shares of this telecom services provider declined by Rs 14.55 or 5% to Rs 276.50 per share on the BSE on Wednesday. Shares of TTML have surged 473% in three months, 524% in six months and whooping 2712% in the last one year as on January 12, 2022, showed technical data of the telecom share.

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Manoj Dalmia, founder and director, Proficient equities Private limited, said TATA Teleservices has given about 3000% return in the last year, but this rally might stop.  

“There is a lot of speculation around this stock daily hitting upper and lower circuits. We might expect the stock to hit the lower circuit as it will create a panic. Tata Teleservices has an AGR due of Rs 16798 crore, out of which Rs 4197 crore has been paid. The initiative seems good as converting such debts is beneficial for both government and company,” said Dalmia.  

On the technical front Tata tele services has higher and higher low on the daily charts and is currently placed above the short-term EMAs in the daily frame, said Ravi Singh, Vice President and Head of Research, ShareIndia.  

“In the recent past after checking a high of 290 levels, the stock has formed a base of around 270 levels on the lower side and is all set to move higher. Overall, chart structure of the counter looks bullish from current level and is witnessing to move towards 320 levels,” he added. 

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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