MTNL extends fall, plunges 20% in two days

Macquarie Bank Limited A/C Dr sold 2.02 million shares of the company at Rs 38.10 on the NSE on Thursday.

Mahanagar Telephone Nigam Limited (MTNL) has tanked 8% to Rs 34.60 extending its previous day’s fall after Macquarie Bank Limited  sold 2.02 million shares of the company at Rs 38.10 on the NSE through block deals on Thursday.

Meanwhile, Goldman Sachs and Company bought 3.1 million shares of the company at an average price of Rs 35.97 per share, the NSE data shows.

The stock of state-owned telecom services provider has plunged 20% in past two trading sessions. Today, the stock opened at Rs 37.30 and has seen 6.27 million shares changing hands on the counter in opening deals.