Tata Teleservices (Maharashtra) Ltd has spiked up over 4% with an intra day high at Rs.8.10 and continues to remain in the green though the rise in volumes is pretty modest.

The company surprised everyone by bidding pretty aggressively for the LTE spectrum in the 800 mHz band. In fact it was so aggressive that it stomped all over Reliance Jio’s bid also, which wanted continuous spectrum in Delhi, AP and Maharashtra. This in turn now has been won by TTML.

These bids were won by TTML for Rs.7851.33 crore and this is a very good development for the company as it has boosted its CDMA spectrum holdings. The company also acquired 2.6 units of 2G airwaves in 1800 Mhz in AP.

This win in the 800 Mhz is considered to be significant as it would be the platform for 4G services and this is what will hold tremendous potential for the country in the long run.