Mahanagar Telephone Nigam Ltd (MTNL) shares rose on Wednesday for the second consecutive day. The stock surged 20% to reach its upper price range of Rs 57.16. This price has increased by 27.58 percent in just two trading days.
Today’s dramatic increase in the share price followed CNBC Awaaz’s report that the Centre had authorized the monetization of the company’s assets worth Rs 16,000 crore, opening the door for debt repayment and operational restructuring. However, Business Today could not independently verify this at publication. In her Union Budget 2025-26 presentation, Finance Minister Nirmala Sitharaman announced a new initiative to give internet access to all government secondary schools and health centers. “Broadband connectivity will be added to all government secondary schools and primary healthcare centers in rural areas under the ‘Bharat Net’ project,” she tweeted.
Technically, MTNL’s stock moved above the 5-day, 10-, 20-, 30-, 50-, 100-, 150-, and 200-day simple moving averages (SMAs). The stock’s 14-day relative strength index (RSI) stood at 66.82. A level less than 30 is regarded as oversold, whereas a value over 70 is considered overbought.
The company’s stock has a negative price-to-equity (P/E) ratio of 1.07 and a price-to-book (P/B) value of -0.14. Earnings per share (EPS) was at (-)52.69, with a return on equity (ROE) of 13.12.
The counter experienced significant trading activity on the BSE, with over 40.17 lakh shares changing hands as of the last count. The amount was much higher than the two-week average volume of 4.84 lakh shares. Turnover on the counter was Rs 22.63 crore, with a market capitalization (m-cap) of Rs 3,560.13 crore. “At there, 56.25 percent of equity shares are owned by the government, and the other 43.75 percent of shares are held by FIIs, Financial Institutions, Banks, Mutual Funds, and others, including private investors,” according to MTNL.