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MTNL gains on Union Cabinet clearing pension benefit plan for its employees

27 Dec 2013 Evaluate

Mahanagar Telephone Nigam (MTNL) is currently trading at Rs. 15.45, up by 0.10 points or 0.65% from its previous closing of Rs. 15.35 on the BSE.

The scrip opened at Rs. 15.40 and has touched a high and low of Rs. 16.17 and Rs. 15.35 respectively. So far 603678 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 28.70 on 07-Jan-2013 and a 52 week low of Rs. 9.71 on 20-Aug-2013.

Last one week high and low of the scrip stood at Rs. 15.90 and Rs. 13.00 respectively. The current market cap of the company is Rs. 973.35 crore.

The promoters holding in the company stood at 56.25 % while Institutions and Non-Institutions held 22.34 % and 19.16 % respectively.

Union Cabinet has cleared the long-standing issue of pension payment plan of around 43,000 Mahanagar Telephone Nigam (MTNL) employees. The proposal entails a recurring expenditure of approximately Rs 500 crore per annum besides adjustments in respect of government pension liability previously discharged by MTNL.

Under the approved plan, all categories (Group A, B, C & D) of employees of the government absorbed in MTNL and who have opted for combined service will be given similar treatment in the matter of payment of pensionary benefits as available to the absorbed employees of BSNL.

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. 

MTNL Share Price

33.37 0.08 (0.24%)
17-Apr-2026 16:59 View Price Chart
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