Mtnl share price: Metropolitan Telephone Corporation Limited i.e. MTNL shares are seeing tremendous boom. During the trading session on Wednesday, the stock has a 20 per cent upper circuit. The stock closed with a 6 percent gain on Tuesday as well. On Wednesday, the stock reached Rs 57.16 with a tremendous jump of 20 per cent. The stock closed at Rs 56.06 with a gain of 17.67 per cent on BSE.
What is the reason for the fast
In this way, this stock has climbed about 28 percent in just 2 business sessions. Momentum is being seen in this stock due to the news of asset monitization. According to media reports, Deepam Secretary Arunish Chawla has reiterated the government’s commitment to help MTNL and BSNL assets. The purpose of this step is to unlock value, eliminate liabilities and revive this sector. This news has increased the interest of investors in this government telecom share. The company has a lot of assets in Mumbai and Delhi.
What are experts saying
According to Avinash Gorakshakar of ProfitMart Security, a concrete disinvestment motion for the company has still not come. He has advised investors to be cautious about such development. He said that the current bounce in the stock is the century, as the Finance Minister has not mentioned any such step in the budget 2025.
Technical charts
MTNL shares are trading above Rs 48.20, its 200 -day experimental moving average. It had set up a 52 week high level of ₹ 101.88 on 29 July after touching a 52-week-low level of ₹ 31.24 on March 20 last year.
Latest business news