MTNL Stock Soars Due to Government's Monetisation Success

MTNL shares jumped over 18% after the Parliament reported substantial revenues from land and building monetisation. By January 2025, MTNL had amassed Rs 2,134.61 crore. The joint efforts with BSNL reflect a significant Rs 12,984.86 crore earned through asset monetisation since 2019.

Shares of Mahanagar Telephone Nigam Ltd (MTNL) saw a significant surge, spiking over 18% as the Indian government disclosed in Parliament the company's substantial earnings from monetising lands and buildings. As of January 2025, MTNL's earnings stood at Rs 2,134.61 crore from this initiative.

The MTNL scrip surged 18.36% to hit Rs 51.30 and Rs 51.18 on the BSE and NSE, respectively. The market responded positively, with the BSE and NSE indices showing upward trends, fueled by the telecom firm's fiscal achievements.

Parliamentary revelations stated that BSNL and MTNL, both state-owned, have collectively raked in Rs 12,984.86 crore from similar monetisation efforts of assets like towers and fibres since 2019. The government reiterated that such monetisation involves assets not needed immediately.

(With inputs from agencies.)