Tata Teleservices stocks hit new 52-week high, surge over 1700% in one year; what should investors do now?

Shares of Tata Teleservices Maharashtra (TTML) have been on a roll, hitting the upper circuit day after day. TTML stocks surged 5 per cent to a new 52-week high of Rs 129.45 per share on BSE in Friday's intraday trade.

Stocks of TTML have touched an upper circuit of 5% even on Thursday and traded on a 52-week high value of Rs 123.30 per share on the BSE. Shares traded on a 52-week low value of Rs 6.85 on BSE in December last year.  

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Technical chart throws some interesting figures as far as the shares have grown in the last few months. TTML shares surged 114.23% in the last one month, while it jumped over 260 per cent in three months and over 600 per cent in the past six months, showed data with Stock Edge, an app to analyse BSE, NSE data. As far as one-year returns are concerned, TTML stocks clocked 1709.03% return in 12 months as of December 3.    

Exchanges seek clarification 
Earlier on November 29, the Exchange has sought clarification from Tata Teleservices (Maharashtra) with reference to the exponential movement in the volume of the shares.

TTML reply to exchanges 
Replying to it, the company said in a BSE filing," We would like to submit that we have always promptly intimated of any events, information, etc. required to be disclosed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and will continue to do so in future as and when any such event or information occurs in the Company. At this stage, there is nothing further to disclose."  

What should investors do? 
Earlier on December 1, Vijay Dhanotiya, Lead of Technical Research at CapitalVia Global Research Limited, recommended  a buy for TTML stocks  

"TTML has been rising from 55 and 200-Days EMA lines support on the daily charts. We can see that the stock has gained momentum from the support of the EMA line and is likely to continue its bullish sentiments,"  Dhanotiya had said.

He further said, higher high candle formation on the daily and weekly charts also confirms that the rally will continue further. "We recommend a buy-in TTML above 112 with a target of 172, and a stop loss can be placed below 53," he added.