Mahanagar Telephone Nigam (MTNL) share price rose more than 8 percent to Rs 20.40 after government is planning to sale real estate assets of state-run telecom firm.
The government has listed for sale real estate assets of state-run telecom firms MTNL and BSNL at a reserve price of around Rs 1,100 crore, according to documents uploaded on the DIPAM website.
BSNL properties located in Hyderabad, Chandigarh, Bhavnagar and Kolkata have been posted for sale at a reserve price of around Rs 800 crore.
The Department of Investment and Public Asset Management (DIPAM) website has listed MTNL assets located in Vasari Hill, Goregaon in Mumbai for sale at a reserve price of around Rs 270 crore.
MTNL’s 20 flats located in Oshiwara have also been put up for sale as part of the asset monetisation plan of the company.