MTNL share price jumps 18% to 3-week high. What’s powering the upside?

Shares of Mahanagar Telephone Nigam Ltd. (MTNL), a state-owned telecom firm, surged 18% in early morning trade on March 13, hitting a three-week high of ₹51.20 apiece after reports indicated that the company earned ₹2,134.61 crore from the monetization of lands and buildings.

According to data shared by Minister of State for Communications Pemmasani Chandra Sekhar in the Lok Sabha, BSNL has earned ₹2,387.82 crore and MTNL ₹2,134.61 crore from the monetization of lands and buildings up to January 2025, news agency PTI reported.