Tata Teleservices (Maharashtra) Ltd or TTML is deep in the green today. The stock is currently up 12.5% at Rs.7.02, with an intra day low and high at Rs.6.50 and Rs.7.35 respectively. Its 52-week high stands at Rs.13.15. Volumes are huge, up over 4 times at more than 10 lakh shares trading today morning.

The stock is up on the buzz created by a three-way probable merger between - TTML, Russia's Sistema JSFC and Aircel, controlled by Malaysia's Maxis.  This is unconfirmed news and grapevine has it that if this does happen, it could create the largest telecom company in terms of subscribers – expected to be around 13.5 crore subscribers. Even if this does happen, to work out a fair value between three companies could be fairly complicated and might take a while.