Business Standard

Monday, February 03, 2025 | 09:19 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

MTNL rings loud on plans to monetise assets

Image

Capital Market

MTNL jumped 6.34% to Rs 26 at 15:19 IST on BSE after the company clarified that it is considering asset monetisation proposal to reduce debt.

Meanwhile, the S&P BSE Sensex was up 47.95 points, or 0.16% to 29,958.17. The S&P BSE Small-Cap index was up 167.46 points, or 1.15% to 14,787.69.

On the BSE, 27.98 lakh shares were traded in the counter so far, compared with average daily volumes of 8.59 lakh shares in the past one quarter. The stock hit a high of Rs 27.15 in intraday trade so far, which is 52-week high for the counter. The stock had hit low of Rs 24.55 so far during the day. The stock hit a 52-week low of Rs 15 on 22 November 2016.

 

The stock had outperformed the market over the past 30 days till 3 April 2017, rising 7.47% compared with Sensex's 3.74% rise. The scrip also outperformed the market in past one quarter, gaining 22.86% as against Sensex's 12.26% gain.

The small-cap company has equity capital of Rs 630 crore. Face value per share is Rs 10.

Media reports indicated that Mahanagar Telephone Nigam (MTNL) is looking to sell its surplus land, buildings to pare debt. In clarification to media reports, MTNL during market hours today, 5 April 2017 said that the company's management is considering prposal for asset monetisation i.e., lease / sale of real estate/ buildings, lease/ sale of towers, duct etc. The proceeds of asset monetisation can be utilised for debt reduction, MTNL said.

MTNL reported net loss of Rs 819.96 crore in Q3 December 2016 compared with net loss of Rs 671.59 crore in Q3 December 2015. Net sales fell 8.7% to Rs 686.76 crore in Q3 December 2016 over Q3 December 2015.

State-run MTNL provides telecommunication services. The Government of India currently holds 56.25% stake in MTNL (as per the shareholding pattern as on 31 December 2016).

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 05 2017 | 3:20 PM IST

Explore News