India's MTNL soars on earning $275 million from asset sale
13/03/2025 10:08
** India's Mahanagar Telephone Nigam MTNL.NS soars 18% to one-month high of 51.18 rupees ** Stock jumps 20% so far this week, set for best performance since July 2024 ** Telecom co earns 21.35 billion rupees ($245 million) in asset monetization of non-core assets such as land and buildings since 2019 up to January 2025, per government's reply in parliament ** Telecom services provider has also earned 2.58 billion rupees ($29.7 million) in asset monetization of core assets such as towers and fiber ** More than 71 million shares traded on the day, 12x six-month daily avg volume ** Stock up 1.6% YTD after today's jump (Reporting by Vivek Kumar M and Bharath Rajeswaran) ((VivekKumar.M@thomsonreuters.com;))
Recent news on Mahanagar Telephone Nigam
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