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The stock had surged 7% during Tuesday’s trading session as well, after snapping a two-day losing streak.
In an interaction with CNBC-TV18 on the Budget 2025 Verdict, Department of Disinvestment and Public Asset Management (DIPAM) secretary Arunish Chawla spoke about the asset monetisation for both MTNL and BSNL.
“We are going to help MTNL and BSNL in monetising whatever assets they have so that the value that is locked in can be redeployed, liabilities are cleared and we can re-energize the sector,” Chawla had said on Monday evening.
“Touchwood!” was Chawla’s response when CNBC-TV18 Managing Editor Shereen Bhan asked whether the process will be completed in financial year 2026.
The state-owned, debt-ridden MTNL was declared a Non-Performing Asset by most state-run lenders in October last year.
Back then, CNBC-TV18 had reported that banks have an exposure worth ₹7,925 crore towards MTNL, with total dues amounting to nearly ₹32,000 crore. This also includes short and long-term debt.
Shares of MTNL are up 20% at ₹57.21. The stock has halved from its earlier peak of ₹101.5.
First Published: Feb 5, 2025 9:53 AM IST