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HomeMoneyShares of this government company have climbed 117% in December, at the...

Shares of this government company have climbed 117% in December, at the top of 7 years

Highlights

  • MTNL shares continued to rise for the fourth consecutive day
  • The stock touched Rs 38.95 with upper circuit
  • The stock has climbed 117 per cent so far this month
  • There was a lot of demand for telecom stocks on Tuesday

New Delhi
Shares of state-owned telecom company Mahanagar Telephone Nigam Limited (MTNL) continued to rise for the fourth consecutive day on Tuesday. The stock touched Rs 38.95 with an upper circuit of 10 per cent today. This is its highest level since June 2014. Then it reached Rs 39.10. The stock has gained 117 per cent so far this month, while the BSE Sensex has gained 1.28 per cent during this period.

There was a lot of demand for the stocks of telecom companies on Tuesday. Apart from MTNL, the share of TTML also touched the upper circuit of 5 per cent. The BSE Telecom Index gained 1.3 per cent in the morning session. On Monday, the Department of Telecommunications announced the launch of commercial 5G services in 13 cities of the country in 2022.

Year by year investors became rich, shares of Rs 274 were listed at Rs 425

5G service will start in these cities
According to the department, 5G services can start in Delhi, Gurugram, Mumbai, Pune, Chennai, Kolkata, Bangalore, Hyderabad, Chandigarh, Lucknow, Ahmedabad, Gandhinagar and Jamnagar. This has led to a rise in the shares of telecom companies. Shares of Vodafone Idea rose 2.4 per cent and Bharti Airtel gained nearly 1 per cent. Shares of Reliance Jio’s promoter Reliance Industries rose 0.5 percent.

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