Mahanagar Telephone Nigam Limited or MTNL has been making headlines these days. As the company here surges on Monday investors are more keen to know about the stock. The recent surge in share price is because of Rs 6000 Crore package announced by the Union Cabinet to accelerate the 4G network expansions of MTNL and BSNL.
MTNL Share Price in Today’s Market
As of 10th February MTNL share price has been growing sharply. On Monday share prices rose 9.7% to Rs 57.50. This reflects a positive market sentiment. Last week also MTNL shares grew by 13%. The union cabinet announced a big package for the company.
Company Financials
The central government has approved financial support for the company. A total of Rs 3.22 lakh crore will be given through the revival package. Another Rs 6000 crore will be given for expansion purposes. All this will help the company to grow and bring more profits in the coming days.
Recent news on MTNL Share
As we already know, MTNL is focusing on 4G expansion, this will strengthen the infrastructure and more user experience will improve. This will help the company to gain more customers.
Apart from expansion ‘Asset Monetization’ is going to be another part. MTNL has planned to monetize its non-core assets. Reports say more than Rs 16,000 worth of properties can be monetized. This will help in clearing the debts. Change in leadership has also been seen in the company. Robert Jerand Ravi has been assigned the charge of CMD of BSNL and MTNL. This is effective till 14th April 2025.
Recommendation on MTNL on Buy, Hold or Sell?
As the company has shown significant growth over past 12 months. Currently, many experts suggest a Target Price of Rs 52.5 with a stop loss of Rs 47. The Economic Times reported MTNL shares surged by 19.2% to Rs 56.8, but the investors should do their own research before any investment decision about MTNL.
