MTNL slipped 3.5% from its high to touch a low of Rs 92. The stock finally ended flat at Rs 93. Around 241,603 shares were traded on the BSE today.
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(Updated at 1054 hrs)
MTNL has gained in early trades on hopes of a 46% stake buy in a Kuwait telecom firm.
The stock opened at Rs 95 and added over 3% to touch a high of Rs 96. The stock is now up just 1% at Rs 94. Around 100,564 shares have changed hands so far on the BSE.
The company might join hands with Delhi-based Vavasi Group to acquire a 46% stake in Kuwait telecom company Zain. The deal would cost approximately $13.7 billion. However, MTNL has not taken any view regarding their participation in the consortium.
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