/ TTML Tumbles More Than 5% Even As RBI Seeks More Time From Delhi HC ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 9 March 2017

Tata Teleservices Maharashtra Limited on Thursday is seen loosing ground and down by more than 5% in the early markets hours of the trading session. The stock is in news for its deal with DoCoMo. On Wednesday the Reserve bank of India (RBI) objected to the deal and has termed the deal illegal.

To clear its stand on the enforcement of $1.8 billion arbitral award by TATA sons to NTT DoCoMo the RBI has sought time till Tuesday, March 14 from the Delhi High Court. RBI in its objection stated that any remission of money from Tata Sons to NTT DoCoMo will go against the current agreement between the two parties. 

Justice S. Muralidhar on Wednesday asked the RBI to explain whether its consent was required when Tata Sons is willing to make the payment to NTT DoCoMo. Even as RBI is being asked to make its stand clear the uncertainty hovering around the issue is dragging the TTML stock down. 

Tata Sons in an attempt to end their long standing issue with DoCoMo had agreed on Feb 28 to pay the Japanese company for its 26.5% stakes in Tata Teleservices Ltd. 

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