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Published 15:06 IST, February 5th 2025

MTNL Share Price Today: Stock Hits 20% Upper Circuit - Here’s Why

MTNL shares surged 20% to Rs 57.21 on the NSE, hitting the upper circuit after the Modi government approved a Rs 16,000 crore asset monetization plan.

Reported by: Business Desk
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MTNL bond default
MTNL Share Price Today | Image: Republic Business

Mahanagar Telephone Nigam Ltd. (MTNL) shares soared by 20% during Wednesday’s trade, touching Rs 57.21 on the NSE and triggering an upper circuit. The buying interest followed reports that the government had approved an asset monetization plan worth Rs 16,000 crore to support MTNL’s financial restructuring.
The stock opened at Rs 54.00 on the NSE, significantly higher than its previous close of Rs 47.68. At the time of writing (13:16 PM), MTNL was trading at Rs 56.25, up 17.97%.

MTNL Share Price Today
On the BSE, MTNL opened at Rs 54.00 and climbed to a high of Rs 57.16.

What's Behind the Surge?
The Modi government’s approval of MTNL’s Rs 16,000 crore asset monetization plan has boosted market confidence in the struggling telecom PSU. The move is expected to help the company clear its massive debt and support operational restructuring.

MTNL has been under financial stress, with total debt standing at Rs 32,097.28 crore—40 times more than its annual income of Rs 798 crore. In October 2024, the company was declared a Non-Performing Asset (NPA) by most state-owned banks due to defaults totaling Rs 5,726.29 crore, comprising Rs 5,492 crore in principal and Rs 234.28 crore in interest, as per the report by PTI.

Despite these financial struggles, MTNL holds ‘Navratna Status,’ granting it greater autonomy in investment and capital expenditure decisions.

MTNL Share Price History 
Today’s surge in MTNL’s stock follows a 7% gain in the previous trading session, when it closed at Rs 47.68. Strong buying momentum led to the stock hitting its 20% upper circuit, briefly halting trading.
 

Updated 15:06 IST, February 5th 2025