MTNL shines despite losing 3038 subscribers in June

Mahanagar Telephone Nigam is currently trading at Rs. 25.90, up by 2.05 points or 8.60% from its previous closing of Rs. 23.85 on the BSE.

cabinet approves merger of bsnl and mtnl
cabinet approves merger of bsnl and mtnl

The scrip opened at Rs. 25.60 and has touched a high and low of Rs. 26.45 and Rs. 25.60 respectively. So far 1713730 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 40.85 on 29-Dec-2021 and a 52 week low of Rs. 16.70 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 26.45 and Rs. 23.00 respectively. The current market cap of the company is Rs. 1638.00 crore.

The promoters holding in the company stood at 56.89%, while Institutions and Non-Institutions held 14.29% and 28.82% respectively.

Mahanagar Telephone Nigam (MTNL) has lost 3038 customers in June, 2022. Following this, the company’s total customer base has decreased to 32.39 lakh with market share of 0.28% in terms of wireless subscribers as on June 30, 2022.

MTNL was set up by the Government of India to upgrade the quality of telecom services, expand the telecom network, and introduce new services and to raise revenue for telecom development needs of India’s key metros — Delhi and Mumbai.

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