MTNL shares soar 18% on Rs 2,135 crore asset monetisation

Shares of Mahanagar Telephone Nigam Ltd (MTNL) surged 18.4% in early trade on the BSE, hitting the day's high of Rs 51.30 on Thursday, March 13. The rally followed the company's earnings of Rs 2,134.61 crore from the monetization of land and building assets, as disclosed by Minister of State for Communications Pemmasani Chandra Sekhar in Lok Sabha.

On Wednesday, the Parliament informed that state-owned telecom companies BSNL and MTNL have generated a total revenue of Rs 12,984.86 crore through the monetization of assets, including land, buildings, towers, and fiber, since 2019.

According to the data shared by the Minister, BSNL has earned Rs 2,387.82 crore from asset monetisation.


"BSNL and MTNL are monetising only those land and building assets which are not required for their own use in the foreseeable future and for which it has the rights to transfer the ownership," Sekhar said.

According to a previous ET report, BSNL earned Rs 8,204.18 crore and MTNL Rs 258.25 crore from monetisation of close assets comprising tower and fibre up to January 2025.

"Monetisation of assets are being done as per approved policy of the Government and its impact on the PSUs are being monitored closely," Sekhar said.

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MTNL share price performance

Over the past year, the shares of MTNL have increased by 18.61%. Year-to-date (YTD), there was a decline of 15.66%. In the last six months, the stock has dropped by 23.25%, while the three-month period saw a decrease of 25.95%. Over the past month, the price fell by 12.44%.

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