MTNL stock zooms over 18 pc on robust earnings from asset monetisation

New Delhi, Mar 13 (PTI) Shares of MTNL surged more than 18 per cent on Thursday after the government said in the Parliament that state-owned telecom firm has earned Rs 2,134.61 crore till January 2025 from monetisation of lands and buildings.
     The scrip of Mahanagar Telephone Nigam Ltd (MTNL) rallied 18.36 per cent to Rs 51.30 and Rs 51.18 per piece on the both BSE and National Stock Exchange (NSE), respectively.
     The market benchmarks were trading in the positive zone, with the 30-share BSE rising 139.40 points or 0.19 per cent to trade at 74,169.16. The NSE Nifty was 29.75 points or 0.13 per cent higher at 22,500.25.
     The government informed the parliament on Wednesday that state-owned telecom firms BSNL and MTNL have earned a total of Rs 12,984.86 crore from monetisation of land, buildings, tower and fibre since 2019.
     According to data shared by Minister of State for Communications Pemmasani Chandra Sekhar in Lok Sabha, BSNL has earned Rs 2,387.82 crore and MTNL Rs 2,134.61 crore up to January 2025 from monetisation of lands and buildings.
     "BSNL and MTNL are monetising only those land and building assets which are not required for their own use in the foreseeable future and for which it has the rights to transfer the ownership," Sekhar said in a written reply.
     BSNL has earned Rs 8,204.18 crore and MTNL Rs 258.25 crore from monetisation of close assets comprising tower and fibre up to January 2025, as per the reply.
     "Monetisation of assets are being done as per approved policy of the Government and its impact on the PSUs are being monitored closely," Sekhar said.

(This story has not been edited by THE WEEK and is auto-generated from PTI)