MTNL up 3% on buzz of revival plans

Mahanagar Telephone Nigam was up 3 percent after Kapil Sibal sought Prime Minister Manmohan Singh's intervention for the revival of the loss-making state-run telecom operators BSNL and MTNL, reports CNBC-TV18.

He suggested a group of ministers be formed to look into the issue and said that unless the government takes immediate measures to revive the companies, they will turn sick very shortly. MTNL has been reporting losses since 2009, in FY12, MTNL made losses of Rs 4100 crore.

At 12:05 hrs the shares was quoting at Rs 22, up Rs 0.65, or 3.04 percent. It has touched an intraday high of Rs 22.50 and an intraday low of Rs 21.75.
 
It was trading with volumes of 300,899 shares. In the previous trading session, the share closed up 1.91 percent or Rs 0.40 at Rs 21.35.

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