MTNL zooms 117% in December, trades at its highest level since June 2014

Shares of Mahanagar Telephone Nigam Limited (MTNL) continued their upward movement for the fourth straight trading day. The stock was locked at the 10 per cent upper circuit at Rs 38.95 on the BSE on Tuesday, with only buyers seen on the counter.

The stock of state-owned telecom services provider was quoting at its highest level since June 2014, when it hit a high of Rs 39.10. Till 10:21 am; a combined 4.9 million equity shares had changed hands and there were pending buy orders for 4.74 million shares on the NSE and BSE.

Thus far in the