MTNL is currently trading at Rs. 6.26, up by 0.13 points or 2.11% from its previous closing of Rs. 6.15 on the BSE.
The scrip opened at Rs. 6.18 and has touched a high and low of Rs. 6.41 and Rs. 6.15 respectively. So far 429912 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. 6.05 on 30-Jul-2019.
Last one week high and low of the scrip stood at Rs. 6.80 and Rs. 6.05 respectively. The current market cap of the company is Rs. 389.34 crore.
The promoters holding in the company stood at 56.89%, while Institutions and Non-Institutions held 16.34% and 26.78% respectively.
The Department of Telecommunications (DoT) is reportedly working on a proposal for merger of cash-strapped BSNL and MTNL, as part of efforts to revive the ailing state-owned telecom firms. Merger is one of the many components of the overall revival plan being worked out for the two corporations and that a final call on the matter will be taken by the Cabinet.
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.