Shares of two state-owned companies, Mahanagar Telephone Nigam Limited (MTNL) and HMT rallied up to 17 per cent on the BSE in intra-day trade on Wednesday, hitting their respective fresh 52-week highs, amid heavy volumes. In the past two weeks, these stocks have zoomed up to 78 per cent, against less than 1 per cent gain in the S&P BSE Sensex.
MTNL s stock surged 17 per cent to Rs 21.25 on the back of three-fold jumped in trading volumes. A combined 41 million equity shares of the telecom services provider changing hands on the counter on the NSE and BSE, till 01:06 pm.
In the past two weeks, the has stock soared 78 per cent from the level of Rs 11.92 on February 24, on reports that the Centre has identified real estate and land assets of state-owned telecom services provider to kick off the ambitious PSU asset monetisation programme.
Updated Mar 03, 2021 | 12:37 IST
The government is developing a platform through MSTC for selling non-core assets of public sector enterprises, which will be coordinated by DIPAM. MTNL Mumbai office
New Delhi: The Centre has identified real estate and land assets of state-owned telecom services provider Mahanagar Telephone Nigam Ltd. (MTNL) to kick off the ambitious PSU asset monetisation programme.
The
Economic Times citing a senior official mentioned in a report that MTNL s assets identified for sale will be auctioned through the online e-bidding platform set up by MSTC. Bidding for MTNL assets will take place through MSTC, this will be the first one, the official said.