Breakout stock: Telecom major MTNL can gain 86% to Rs 100; check levels

Mahanagar Telephone Nigam (MTNL) stock has been buzzing in trades in recent days following reports that the state-run banks may take a haircut on the company’s outstanding debt. Reports indicated that public sector banks (PSBs) may agree to a 20 per cent haircut on their Rs 8,144 crore exposure to the ailing telecom firm, with the loans turning into non-performing assets (NPAs).

However, according to the latest reports, the Union finance ministry has rejected MTNL’s proposal for PSBs to take a haircut on their debt.