MTNL up 18%

MTNL is the top gainer on the BSE since the opening bell, rising 18% to an intraday high at Rs.51.30, very close to its 20% UC of the day at Rs.52.

MTNL's stock surged primarily due to asset monetization and renewed investor confidence. Here are the key reasons for the spike:

1. Asset Monetization – MTNL announced that it had raised Rs.2,135 crore by selling land and building assets, improving its financial health.
2. No Privatization Plans – The government clarified that MTNL would not be privatized, reassuring investors.
3. Turnaround Hopes – Investors saw the asset sale as a positive step toward reducing debt and strengthening the company’s balance sheet.