Government Telecom company Mahanagar Telephone Corporation Limited i.e. MTNL shares have seen a tremendous boom today. MTNL’s stock rose 15 per cent as soon as the market opened today. In early trade, it appeared 15.64 per cent to trade at Rs 50.12. Following a information issued by the government, the company’s shares have seen this boom. The government said on Wednesday that it would not privatize telecom companies BSNL and MTNL. After this, heavy purchases are being seen in MTNL shares today. The company’s market cap is Rs 3,072.51 crore.
Company earning money by selling assets
In the Lok Sabha on Wednesday, Minister of State for Communications Chandra Shekhar Pammasani said that the government is not going to privatize both government telecom companies BSNL and MTNL. Chandra Shekhar said that MTNL is earning money by selling its assets. He said that the company has so far raised several thousand crore rupees. Both government companies have earned a total of Rs 12,984.86 crore by selling assets since 2019. These assets include land, buildings, towers and fiber.
Earnings by selling tower and fiber
The minister said that both these government companies are selling only the land and buildings that they do not need in the future. He said that this asset monitization is being done according to the approved policy of the government. According to a report, by January 2025, BSNL had earned Rs 8,204.18 crore and MTNL earned Rs 258.25 crore by selling assets like tower and fiber.
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