MTNL Shares Rally 17% as Board Approves Rs 892 Crore Powai Property Sale Amid Debt Worries

MTNL shares rally 17% as board approves Rs 892 crore Powai property sale amid debt worries

MTNL shares rose sharply after the company’s board approved the sale of its Powai property in Mumbai to the Income Tax Department for Rs 891.53 crore. The asset monetisation comes as the debt-laden PSU seeks to reduce liabilities, which stood at around Rs 40,000 crore in FY26, according to the government.

MTNL to sell Powai property to Income Tax Department for ₹892 crore

Mahanagar Telephone Nigam Limited (MTNL) has announced the approval for the sale and transfer of its property located at Powai Plot-C, Technology Street, Powai, Mumbai. The property is being sold to the Income Tax Department through a Government-to-Government (G2G) transfer at a sale value of Rs. 891.53 crore. This decision was ratified by MTNL’s Board […]

MTNL board approves sale of Powai property to I-T Dept for Rs 891.53 crore

New Delhi, Oct 1 (SocialNews.XYZ) State-owned telecom company Mahanagar Telephone Nigam Ltd (MTNL) on Thursday said its board has approved the sale of its property at Powai in Mumbai to the Income Tax Department for... - Social News XYZ

MTNL Shares Jump Nearly 13% After Rs 891.53 Crore Powai Property Sale

Shares of Mahanagar Telephone Nigam Ltd (MTNL) surged nearly 13% in morning trade on Thursday after the state-owned telecom company approved the sale of its Powai property in Mumbai for Rs 891.53 crore.  MTNL’s board approved the sale and transfer of its property at Plot-C, Technology Street, Powai, through a...