Tata Sons Limited has cancelled plans to divest 2.72% stake in Tata Teleservices (Maharashtra) Limited (BSE:532371) for meeting the minimum public shareholding norms. On May 15, 2013, it was announced that Tata Sonswould will divest 51,623,679 shares representing 2.72% sake in Tata Teleservices (Maharashtra) on May 17, 2013. In a filing to the BSE, Tata Teleservices (Maharashtra) said: "Tata Sons Limited has now informed BSE that they have decided to cancel the sale in full." Tata Teleservices (Maharashtra)’s shares fell 8.58% to close at INR 8.10.

Tata Teleservices (Maharashtra) Limited reported audited financial results for the fourth quarter and year ended March 31, 2013. For the quarter, the company reported total income from operations (net) of INR 6,811.9 million compared to INR 6,515.1 million, loss from operations before other income, finance costs and exceptional items of INR 99.3 million compared to INR 43.9 million, loss from ordinary activities before tax and net loss of INR 1,152.3 million or INR 0.61 per basic and diluted share compared to INR 1,234.0 million or INR 0.65 per basic and diluted share for the last year. For the year, the company reported total income from operations (net) of INR 26,345.4 million compared to INR 24,884.4 million, loss from operations before other income, finance costs and exceptional items of INR 1,454.3 million compared to INR 136.0 million, loss from ordinary activities before tax and net loss of INR 6,587.7 million or INR 3.47 per basic and diluted share compared to INR 5,175.5 million or INR 2.73 per basic and diluted share for the last year.

Tata Teleservices (Maharashtra) Limited announced that they will report fiscal year 2013 results on May 13, 2013