MTNL shares rally 19% as government clears Rs 16,000 crore asset monetization

Shares of state-owned Mahanagar Telephone Nigam Ltd (MTNL) surged as much as 19.2% on Wednesday to Rs 56.8 on the BSE after reports surfaced that the government had approved the monetization of the company’s assets worth Rs 16,000 crore, paving the way for debt repayment and operational restructuring.