MTNL share price: The stock traded above the 5-day, 10-day, 20-day, and 30-day simple moving averages (SMAs), but below the 50-day, 100-day, 150-day, and 200-day SMAs.
MTNL Shares Surge by Over 18% Today: Here’s the Reason Behind the Jump
Shares of Mahanagar Telephone Nigam Ltd (MTNL) rose 18.37% on Thursday to a high of Rs 51.30. The stock was last seen trading 16.15 per cent higher at Rs 50.34. Despite today’s increase, it has lost 2.04 percent year to date (YTD).
MTNL’s shares soared when it was revealed that the state-run telecom PSU has collected Rs 2,134.61 crore from the monetisation of lands and buildings until January 2025.
According to data presented by Minister of State for Communications Pemmasani Chandra Sekhar in Lok Sabha, BSNL and MTNL have received Rs 2,387.82 crore and Rs 2,134.61 crore, respectively, from the monetisation of lands and buildings as of January 2025. During the same time, BSNL earned Rs 8,204.18 crore and MTNL received Rs 258.25 crore from the monetisation of near assets like as towers and fibre.
“Monetisation of assets is being done as per the government’s authorized strategy and its impact on the PSUs is being examined constantly,” Sekhar told reporters.”
Technically, MTNL’s stock rose above the 5-day, 10-day, 20-day, and 30-day simple moving averages (SMAs), but fell below the 50-day, 100-day, 150-day, and 200-day SMAs. The 14-day relative strength index (RSI) was at 59.14. A level less than 30 is regarded oversold, whereas a value more than 70 is considered overbought.
The company’s stock has a negative price-to-equity (P/E) ratio of 0.95 and a price-to-book (P/B) value of -0.12. Earnings per share (EPS) was at (-)52.60, with a return on equity (ROE) of 13.10.
The counter experienced significant trading volume on the BSE, with over 27.23 lakh shares changing hands as of the time of writing. The amount was much higher than the two-week average volume of 4.47 lakh shares.
“At present, 56.25 per cent of equity shares are held by the government and the remaining 43.75 per cent of shares are held by FIIs, Financial Institutions, Banks, Mutual Funds and others, including individual investors,” according to MTNL.
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