MTNL (Mahanagar Telephone Nigam Ltd.), the state-owned telecom company, has grabbed the spotlight again. On 13th March 2025, MTNL share price zoomed 18% in early trade, hitting a three-week high of ₹51.30 on the back of a positive development—₹2,134.61 crore earned through land and building monetisation.
This sharp move has raised eyebrows, especially since the stock has been correcting for the past few months, down over 40% in the last eight months, after a massive 315% rally between July 2023 and July 2024. But what’s really behind this sudden surge now? Let’s break it down.
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Why MTNL shares are rising again
There’s no smoke without fire—and MTNL’s rise is backed by real numbers and events. Here’s a look at the four key reasons fueling the rally.
1. Big earnings from asset monetisation
The most immediate trigger behind the spike in MTNL share price is the government’s disclosure in Parliament that MTNL earned ₹2,134.61 crore from monetising land and buildings till January 2025.
This information came directly from Minister of State for Communications Pemmasani Chandra Sekhar, who added that BSNL, MTNL’s parent company, earned ₹2,387.82 crore during the same period.
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Here’s a quick breakdown of the asset monetisation earnings:
| Company | Asset Category | Earnings (₹ Crore) |
| MTNL | Land & Buildings | 2,134.61 |
| BSNL | Land & Buildings | 2,387.82 |
| MTNL | Towers & Fibre | 258.25 |
| BSNL | Towers & Fibre | 8,204.18 |
| Total (since 2019) | Combined monetisation (MTNL + BSNL) | 12,984.86 |
The government clarified that only unused or non-essential assets are being monetised and this policy is being closely monitored.
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2. Strong government backing
While many had questions around the future of MTNL, the recent announcements are a strong signal that the company is still being supported by the government. The minister dismissed speculation about privatisation, assuring that MTNL and BSNL are not being sold off.
Moreover, MTNL has been consistently included in revival and support packages:
- ₹6,000 crore financial package for 4G rollout
- ₹1.64 lakh crore revival plan in 2022 for BSNL-MTNL that included spectrum allocation, debt restructuring, and employee cost rationalisation
3. Spiking volumes and technical momentum
Another factor that stood out in this rally was the sudden spike in trading volumes. On March 13 alone, over 27 lakh shares were traded, significantly higher than the two-week average of 4.47 lakh shares.
In technical terms, MTNL share price has now crossed key short-term moving averages, which often signals positive momentum for retail and technical traders.
4. Recent 4G expansion push
Last month, MTNL signed a 10-year deal with BSNL to ramp up their 4G infrastructure, aiming to compete more effectively with private telecom players like Jio, Airtel, and Vodafone Idea. The plan includes setting up 100,000 4G sites across India, targeting urban and rural connectivity.
This 4G push is backed by the government’s funding and has reassured investors that the company is not stagnant.
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MTNL stock history and key data points
Let’s take a deeper look at MTNL share analysis to understand the recent movement in the context of long-term performance.
| Timeframe | Change in MTNL Share Price |
| Past 5 days | +14% |
| Past 1 month | -2% |
| Last 3 months | -25.95% |
| Last 6 months | -23.25% |
| Year-to-Date | -4% |
| 1-year return | +49% |
Also worth noting:
- 52-week high: ₹101.88 (August 29, 2024)
- 52-week low: ₹31.24 (March 20, 2024)
- Current market cap: ₹3,110 crore
Shareholding pattern (Q3 FY25)
| Shareholder | Stake (%) |
| Government of India | 56.3% |
| LIC | 13.44% |
| General Public | 30.2% |
Is this a turnaround or just a relief rally?
Let’s face it—MTNL still has challenges, especially with a market share of only 8.08% (along with BSNL) in India’s wireless subscriber base. Private players hold over 91% share, and that’s not changing overnight.
However, what we’re seeing now is a classic case of asset-led earnings supporting a struggling business, and sentiment improving due to policy clarity and funding assurance.
This might not be a full turnaround yet—but it’s definitely a relief rally that brings hope, and could serve as a base for longer-term structural changes.
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Final thoughts
The sharp surge in MTNL share price has certainly caught attention, especially in a market that has otherwise been quiet. The ₹2,134 crore earnings, renewed government support, and 4G expansion plans have all come together to lift investor sentiment.
If you’re tracking stocks that could benefit from government reforms or infrastructure monetisation plays, MTNL could be worth watching closely in FY25.
