Somwal had seen a rise of 13 percent in MTNL shares.
Mahanagar Telephone Nigam Ltd Share: There was a stormy rise in the shares of government company Mahanagar Telephone Nigam Limited on Monday morning. The company’s share price was successful in gaining 13 percent. At one point MTNL shares reached the level of Rs 52.48 with a rise of 13.37 percent. This is also the 52 week high of the company. The reason behind the rise in the company’s shares is a news related to BSNL.
What is the matter?
According to reports, the government is considering handing over the operations of MTNL to BSNL. The exchange has sought response on this report of Economics Times. However, no response was given by MTNL till Tuesday morning.
Strong return of 900% in 1 year, new news related to the company surfaced, price less than ₹ 60
How has the company’s performance been in the stock market in the last one year?
On Monday, the company’s shares closed at Rs 48.99 on BSE with a rise of 5.83 percent. During the last one month, the company’s share prices have seen a rise of 16.60 percent. At the same time, the price of the company’s shares has increased by more than 153 percent in one year.
LIC has also invested
52 week low level of MTNL is Rs 19.01. The market cap of the company is Rs 3086.37 crore. Let us tell you, till March 31, 2024, the total stake of the government in the company is 56.30 percent. Whereas the public’s share is 29.73 percent. LIC has also invested in MTNL.
How are the company’s quarterly results?
The company’s loss in the last quarter of the last financial year was Rs 817.58 crore. Which has increased on an annual basis. MTNL’s total loss in the same quarter a year ago was Rs 745.78 crore.
