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MTNL surges ahead of govt press meet on PSU telecom cos

Shares of Mahanagar Telephone Nigam have surged 15% so far today, and were up nearly 9% at 11:38 AM, following government’s announcement of a strategic roadmap for synergies among state-owned telecommunication companies.

The announcement is likely to be made at a press meet in the national capital today.

So far, 5.7 million shares of the company have changed hands on NSE, way above the three-month daily average volume of 3.4 million shares.

Mahanagar Telephone Nigam Ltd is currently trading at Rs24.40 up by Rs1.9 or 8.44% from its previous closing of Rs22.50 on the BSE.
The scrip opened at Rs22.45 and has touched a high and low of Rs25.65 and Rs22.45 respectively. So far 79,12,567(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,417.50cr.