MTNL stock zooms more than 18% on robust earnings from asset monetisation
The Hindu
MTNL shares surge 18% after earning ₹2,134.61 crore from land monetisation, government informs Parliament. Market benchmarks rise.
Shares of Mahanagar Telephone Nigam Limited (MTNL) surged more than 18% on Thursday (March 13, 2025) after the government said in the Parliament that the State-owned telecom firm has earned ₹2,134.61 crore till January 2025 from monetisation of lands and buildings.
The scrip of MTNL rallied 18.36% to ₹51.30 and ₹51.18 per piece on the both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), respectively.
Government mulls handing over MTNL operations to BSNL; merger unlikely
The market benchmarks were trading in the positive zone, with the 30-share BSE rising 139.40 points or 0.19% to trade at 74,169.16. The NSE Nifty was 29.75 points or 0.13% higher at 22,500.25.
The government informed the Parliament on Wednesday (March 12, 2025) that State-owned telecom firms BSNL and MTNL have earned a total of ₹12,984.86 crore from monetisation of land, buildings, tower and fibre since 2019.
According to data shared by Minister of State for Communications Pemmasani Chandra Sekhar in Lok Sabha, BSNL has earned ₹2,387.82 crore and MTNL ₹2,134.61 crore up to January 2025 from monetisation of lands and buildings.
"BSNL and MTNL are monetising only those land and building assets which are not required for their own use in the foreseeable future and for which it has the rights to transfer the ownership," Mr. Sekhar said in a written reply.
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