MTNL Stock Soars 20% as Government Unveils Massive ₹16,000 Crore Asset Monetization Plan

Mahanagar Telephone Nigam Limited (MTNL) shares skyrocketed to hit the 20% upper circuit at ₹57.21 on February 5, 2025, marking a remarkable 28% surge in just two days. The rally was fueled by the government's ambitious plan to monetize non-core properties worth ₹16,000 crore, with a Group of Ministers waiving various property charges. Adding to investor optimism, Finance Minister Nirmala Sitharaman's Budget 2025 announcement of expanding broadband connectivity to government schools and healthcare centers has further brightened MTNL's prospects. The stock's impressive performance comes despite being down 59% from its 52-week high of ₹101.88 reached in July 2024.

Source: Business Standard, Moneycontrol, Upstox