Tata Teleservices shares slide 6% in 2 days after Q3 results. Here’s why

Tata Teleservices (Maharashtra) shares extended their post-earnings slide on Wednesday, taking the two-day decline to more than 6%, as investors looked past a sharp narrowing of losses and focused instead on a double-digit drop in revenue and a deteriorating technical picture.

Shares of Tata Teleservices (Maharashtra) fell as much as 3.1% on Wednesday to Rs 42.22 on the BSE. The stock had already declined about 3% on Tuesday after the company reported its December-quarter results, taking the cumulative fall since the earnings announcement to 6.3%.

The telecom services provider reported a net loss of Rs 150.43 crore for the quarter ended December 31, 2025, significantly narrower than the Rs 315.11 crore loss a year earlier. But revenue from operations declined 11.56% year-on-year to Rs 294.31 crore, unsettling investors worried about growth sustainability even as losses shrink.

While the sharp reduction in losses offered some comfort, the market reaction suggested that investors were more concerned about the top-line trajectory. Sales fell from Rs 332.77 crore in the year-ago quarter, reflecting the pressure on the company’s core business despite ongoing efforts to reposition itself.

Tata Teleservices (Maharashtra) has been transitioning away from consumer mobility services to an enterprise-focused model under Tata Tele Business Services, offering connectivity, cloud, cybersecurity, Internet of Things and collaboration solutions. The strategy targets higher-margin business clients, particularly small and medium enterprises and large corporations, but the latest numbers raised questions about the pace at which this shift is translating into revenue growth.

Bearish technical signals add pressure

The stock’s technical indicators added to the negative sentiment. Tata Teleservices (Maharashtra) is trading below all eight of its key simple moving averages, from the 5-day to the 200-day, pointing to persistent weakness across short-term and long-term charts.

The Relative Strength Index stands at 27.1, below the 30 mark that typically signals oversold conditions, suggesting the stock may be due for a rebound. However, momentum indicators remain firmly negative. The Moving Average Convergence Divergence is at -1.5 and below both its signal and center lines, a configuration widely viewed as a strong bearish signal.

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