Mahanagar Telephone Nigam (MTNL) was the second biggest gainer on the markets today on buying pressure. On the Bombay Stock Exchange, the stock rose almost two per cent at Rs 153.25 in intraday trading but closed at Rs 150.05, up 0.47 per cent.
More than 10.03 lakh shares changed hands on the counter today. On the National Stock Exchange, the scrip closed at Rs 150.25, a gain of 0.50 per cent. It clocked a volume of 19.59 lakh shares on the bourse.
Telecom analysts said the scrip rose mainly on hopes of an early disinvestment in the company.
Also, the reduced rentals on wireless-in -local loop (WLL) services and a higher share expected from the interconnectivity between Bharat Sanchar Nigam (BSNL) and MTNL helped the stock, they added.
The disinvestment of MTNL is scheduled for after 2004.
