 "MTNL surges 20% on delisting buzz")
Shares of Mahanagar Telephone Nigam Limited (MTNL) were locked at the upper circuit of 20% at Rs 19.80 on the NSE on the back of heavy volumes on delisting buzz.
The state-owned telecom company clarified that no such proposal is under the consideration of board/management.
According TV channel reports, the government is planning to delist MTNL ahead of its merger with state-owned Bharat Sanchar Nigam (BSNL).
Till 1510 hours, the trading volumes on the counter surged more than 20-fold, with a combined 26.3 million shares changing hands. There were pending buy orders for around 250,000 shares on the NSE and BSE.
The state-owned telecom company clarified that no such proposal is under the consideration of board/management.
According TV channel reports, the government is planning to delist MTNL ahead of its merger with state-owned Bharat Sanchar Nigam (BSNL).
Till 1510 hours, the trading volumes on the counter surged more than 20-fold, with a combined 26.3 million shares changing hands. There were pending buy orders for around 250,000 shares on the NSE and BSE.
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