MTNL rose 6.64% to Rs 13.65 at 9:34 IST on BSE after the company's American depository receipt, or ADR, jumped 12.12% to settle at $0.37 on the New York Stock Exchange on Wednesday, 11 September 2013.
Meanwhile, the BSE Sensex was down 51.01 points, or 0.26%, to 19,946.44.
On BSE, 5.26 lakh shares were traded in the counter compared with average volume of 4.62 lakh shares in the past one quarter.
The stock hit a high of Rs 13.91 and a low of Rs 12.80 so far during the day. The stock hit a record low of Rs 9.71 on 20 August 2013. The stock hit a 52-week high of Rs 42.10 on 17 September 2012.
The stock had underperformed the market over the past one month till 11 September 2013, sliding 4.26% compared with the Sensex's 6.43% rise. The scrip had also underperformed the market in past one quarter, sliding 32.98% as against Sensex's 4.46% decline.
The small-cap company has an equity capital of Rs 630 crore. Face value per share is Rs 10.
MTNL reported net loss of Rs 1256.19 crore in Q1 June 2013, higher than net loss of Rs 1059.29 crore in Q1 June 2012. Net sales rose 6.3% to Rs 883.16 crore in Q1 June 2013 over Q1 June 2012.
MTNL provides basic phone, internet and cellular mobile telephony services in Delhi and Mumbai. The Government of India (GoI) holds 56.25% stake in MTNL (as per the shareholding pattern as on 30 June 2013).
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