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Wednesday, 8 March 2017

The BSE has lowered the circuit limit for shares of Tata Teleservices (Maharashtra) (TTML) to 10 per cent to curb volatility after a recent rally in the stock.

The change has been effected since March 2. The share price of the company had surged 43.79 percent in just couple of trading sessions.

Circuit filter mechanism is used by stock exchanges to keep excessive volatility in check. It is the maximum fluctuation that is allowed during trading, which gets suspended if the permissible limit is hit in either direction.

TTML’s promoter Tata Sons agreed to pay Japanese telecom firm NTT Docomo USD 1.18 billion (Rs 7864 crore) to settle their two-year-old dispute. Meanwhile, Tata Sons and group companies held 63.14 per cent in TTML, Docomo had 11.76 percent stake at the end of December 2016.

The share price of TTML declined 15 percent after change in circuit limit for the company. The declining scenario may be for short term.

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