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I have been tipped about Tata Teleservices (Maharshtra) Ltd., (TTML) a year back when it was ranging between Rs.17 to 20. The major reason for such low price of a Tata share was that the company was consistently in loss. Therefore, I did not take much interest in the script.

However, with the result of every quarter the loss started diminishing and price was picked up relatively and quitely. In the recent euphoria a news came that the company will show profit for first time during the quarter ending on Sep’07 and price reached to Rs.45-00 making TTML a classic turnaround story.

Now, like most of other investors I too felt missed out the TTML rally and decided to purchase some shares at a given dip. A single day opportunity was provided on 05-10-2007 when with the market crash the share price reached between 36 to 38 and I have purchased it in small quantity. Then today it reached to Rs. 42-00 and closed at some Rs.40-75. I will accumulate some more upto Rs.45-00.

Considering the face value of Rs.10-00 it seems cheaper than other telecommunication companies, particularly with Spice Communication which is also an loss making company. Further,some mutual funds also have shown some interest and purchases have been made between the price range of Rs. 31-00 to 43-00 , which is also encouraging sign.

Sometime back the board had recommended 10% , Re.1-00 , dividend but it seems that the recommendation has not been approved in the Annual General Meeting. But the prospective of dividend seems good and even at the price of Rs.40-00 it gives 2.5% yield.

Rumors in the streets are that the price will be near 200-00 within next 12-18 months. However, I still maintain my target for 20% annual return on the amount invested.

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