One statement from the government & stock of this telecom company became rocket
MTNL Share Price: The stock of telecom company Mahanagar Telephone Nigam Limited (MTNL) has seen a tremendous rise today. The stock of MTNL rose 15 per cent as soon as the market opened today. In early trade, it was seen trading at Rs 50.12 with a gain of 15.64 per cent. This rise in the stock of the company has been seen after information released by the government.
Stock of MTNL rose 15 per cent
The government had said on Wednesday that it would not privatize telecom companies BSNL and MTNL. After this, heavy buying is being seen in the stock of MTNL today. The market cap of the company is Rs 3,072.51 crore.
Also Read: 2 good news for the country before Holi, inflation lowest in 7 months... IIP jump
Both these government companies are selling only that land and buildings which they do not need in future. This asset monetization is being done as per the approved policy of the government
Company earning money by selling assets
In the Lok Sabha on Wednesday, Minister of State for Communications Chandra Shekhar Pemmasani said that the government is not going to privatize both the government telecom companies BSNL and MTNL. Chandra Shekhar said that MTNL is earning money by selling its assets.
He said that the company has raised several thousand crores of rupees so far. Both the 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.
Big amount earned by selling towers and fiber
The minister said that both these government companies are selling only that land and buildings which they do not need in future. He said that this asset monetization is being done as per the approved policy of the government.
Summary
According to a report, by January 2025, BSNL had earned Rs 8,204.18 crore and MTNL Rs 258.25 crore by selling assets like towers and fiber.
Also Read: OPPO F29 Series to Launch on March 20: Built for Durability and Style
.