Tata Teleservices announces launch of UCaaS with Microsoft Teams; stock up nearly 7%

Shares of Tata Teleservices (Maharashtra) rose as much as 7 per cent to touch the day's high of Rs 86.36 apiece on the BSE. The buying interest in the stock increased after the Tata Group company announced the launch of Smartflo Unified Communication as a Service (UCaaS), a voice solution integrated with Microsoft Teams.

"Tata Tele Business Services (TTBS), one of India’s leading enablers of digital connectivity and cloud solutions for businesses, has announced the launch of Smartflo Unified Communication as a Service (UCaaS), a unique voice solution integrated with Microsoft Teams," the regulatory filing read.

According to the regulatory filing, the Smartflo UCaaS solution works with Direct Routing for Teams, allowing users to place PSTN calls (to a landline or mobile number) from their desktop, laptop, or mobile device using the corporate network. This model provides the convenience of unified communication with built-in privacy for users. It replaces traditional PBXs and enables key calling capabilities with a cloud-based call control system.

At around 12:05 PM, the stock was trading 6.1 per cent higher at Rs 85.77 apiece on the BSE. The stock has rallied for two straight sessions and has gained over 15 per cent. The market capitalisation stands at Rs 16,644.25 crore. The stock closed over 1 per cent higher at Rs 82.04 apiece on BSE.

Tata Teleservices Q4 results

Tata Teleservices (Maharashtra) Ltd had logged a loss after tax of Rs 277.07 crore against a loss of Rs 280.62 crore a year ago. The company's revenue stood at Rs 280.13 crore compared to Rs 272.78 crore in the March 2022 quarter.

What analyst suggests? 

"In the past two trading sessions the stock has gained good volumes, the stock will have a hurdle stop at around 92/93. If someone has position they should keep a target at Rs 92 and hold," said Ruchit Jain, Lead Research, 5paisa. 

Tata Teleservices share price 

Tata Teleservices shares have lost over 7 per cent in 2023 so far, compared to the Nifty 50's rise of nearly 9 per cent. 

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