The stock was listed on 21st March 2006 at a premium of 2.3 per cent at Rs 172 over its issue price of Rs 168. It closed the week at Rs 191.75 gaining 4.84 per cent over the closing price of 21st March 2006.
According to analysts, the interest is not only because of its recent listing but also due to its well placed busines model amid booming real estate and housing activities in the country.
From a mere ceramic tile company, the company has diversified into offering total integrated flooring solutions in the country.
Stock of the week
Stock of MTNL was ringing aloud on the bourses. It registered gain of 10.89 per cent for the week to settle at Rs.182.20 followed by huge volumes. The stock was buzzing as there were media reports that the government is working towards a BSNL-MTNL merger. Analysts are bullish about its merger as the combined entity will enjoy a total subscriber base of 60 million including both fixed line and mobile users. It will not only lead to substantial cost savings on the network as well as marketing and interconnect front but also lead to stronger bargaining power with equipment vendors. | ||||||||||||||||