Meanwhile, the BSE Sensex was up 60.21 points, or 0.38%, to 16,062.72.

On BSE, 1.71 lakh shares were traded in the counter as against an average daily volume of 3.84 lakh shares in the past one quarter.

The stock hit a high of Rs 14.45 and a low of Rs 14 so far during the day. The stock had hit a 52-week low of Rs 13.60 on 13 December 2011. The stock had hit a 52-week high of Rs 23.50 on 25 July 2011.

The stock had underperformed the market over the past one month until 13 December 2011, sliding 19.47% compared with the Sensex's 6.92% decline. The scrip had also underperformed the market in past one quarter, falling 22.66% as against 2.82% fall in the Sensex.

The mid-cap telecom company has an equity capital of Rs 1897.20 crore. Face value per share is Rs 10.

Docomo bought a 26% stake in Tata Teleservices for $2.7 billion in 2008. Reports suggested that the likely hike in stake is part of a two stage plan that allows Docomo to ramp up shares if the Indian mobile operator meets certain performance parameters.

According to reports, Docomo has two call options available in March 2012 and two years later in 2014 to emerge as the largest shareholder in Tata Teleservices. It can refrain from exercising both the options and sell the entire stake back to Tata in 2014, in case the company is unable to achieve certain benchmarks. But, if Docomo exercises the first option of increasing the stake to 35%, then it cannot force a buyback on Tatas two years later. Hence Docomo's decision in the coming few months will be significant for the joint venture.

As on 30 September 2011, Tata Teleservices and NTT Docomo directly held 37.65% and 12.12% in Tata Teleservices (Maharashtra) (TTML), respectively.

Tata Teleservices (Maharashtra) reported net loss of Rs 130.21 crore in Q2 September 2011, higher than a net loss of Rs 97.90 crore in Q2 September 2010. Net sales rose 10% to Rs 613.24 crore in Q2 September 2011 over Q2 September 2010.

TTML offers telecom services in the Mumbai, Maharashtra and Goa circles. Tata Teleservices, along with TTML, serves over 85 million customers in more than 4.5 lakh towns and villages across the country, with a bouquet of telephony services encompassing mobile services, wireless desktop phones, public booth telephony and wireline services.