MTNL rings loud and clear

MTNL is ringing loud and clear today morning, with the stock opening higher and then hitting an intra day high at Rs.32.65 and it is now up almost 5%, with volumes up 2.2 times.

The stock is reacting to the news that the much talked and discussed about merger between MTNL and BSNL might finally see the light of the day with the telecom department (DoT)  for the first time, setting a cutoff date of July 31, 2015, for concluding the merger. The DoT has said that it hopes the nod from the Cabinet for this merger by 30th June 2015.