Please find attach herwith the clarification on price movement on the letterhead of the Company.
TNTELE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Tamilnadu Telecommunications Ltd (TTL), a joint venture sick company with no current business activity, has clarified to BSE that the recent movement in its share price is due to the promoter's decision to sell their stake. The promoter, a government company, has floated a tender and published newspaper advertisements to find prospective buyers for the shares. The company states all relevant information has already been submitted to the exchange without delay, and these activities are being carried out with government consent.
The clarification confirms that the price movement is driven by promoter stake sale plans rather than any new business development. As a sick company with no active operations, investors should be cautious about the underlying fundamentals despite the speculative interest.