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MTNL slips on losing 12,096 subscribers in March

Mahanagar Telephone Nigam is currently trading at Rs. 8.50, down by 0.06 points or 0.70% from its previous closing of Rs. 8.56 on the BSE.

The scrip opened at Rs. 8.50 and has touched a high and low of Rs. 8.75 and Rs. 8.42 respectively. So far 211997 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 19.40 on 01-Jan-2019 and a 52 week low of Rs. 8.45 on 17-May-2019.

Last one week high and low of the scrip stood at Rs. 9.50 and Rs. 8.42 respectively. The current market cap of the company is Rs. 535.50 crore.

The promoters holding in the company stood at 56.89%, while Institutions and Non-Institutions held 20.13% and 22.99% respectively.

Mahanagar Telephone Nigam (MTNL) has lost 12,096 customers in March 2019. Following this, the company’s total customer base has decreased to 34.53 lakh with market share of 0.30%.

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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