President of India & LIC-Backed Telecom Stock Under Rs 100 Hits Upper Circuit on Friday with Heavy Volumes: Stock Gains Over 250 per cent in Just 1 Year!
The company’s shares have delivered an impressive return of over 250 per cent in just 1 year only.
Mahanagar Telephone Nigam Limited (MTNL) provides telecom services and was established as a public sector undertaking in 1986. It serves the cities of Delhi, including the NCR region, and Mumbai, including the Thane district. MTNL was founded to offer world-class telecommunications services at affordable rates. The company was awarded Navratna status in 1997.
At the start of the day's trading session, the stock opened at Rs 66 per share, compared to the previous day's closing figure of Rs 64.02 per share on the BSE. Finally, the shares closed at Rs 69.32 per share on the BSE. The stock has reached the upper circuit price limit of 10 per cent, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers.
The company's current market capitalization stands at Rs 4367.16 crore, and the stock has generated an impressive multibagger return of over 250 per cent in the past 1 year.
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As per the Quarterly Results, in the fourth quarter of FY24, Mahanagar Telephone Nigam Limited (MTNL) recorded a revenue of Rs 209 crore. The operating loss for Q4 FY24 stood at Rs 75 crore. The net loss for Q4 FY24 was Rs 784 crore. Looking at the annual performance, the company generated a revenue of Rs 799 crore in FY24, compared to Rs 935 crore in FY23. The operating loss for FY24 was Rs 488 crore, with a net loss of Rs 3268 crore.
Regarding the shareholding pattern of Mahanagar Telephone Nigam Limited (MTNL), the promoters own 56.25 per cent of the company and the public or retail investors hold 29.73 per cent. FIIs and DIIs own 0.38 per cent and 13.63 per cent respectively.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.