The multibagger stock from the telecom sector has gained over 110% in a year!
Government has this company in focus.
Mahanagar Telephone Nigam Ltd has been one of the leading fixed-line telecommunication service providers in the metropolitan cities of Delhi and Mumbai. It has multiplied its shareholders’ wealth by over 2.1 times in just trailing twelve months. The stock was trading at Rs 12.9 on 10th February 2021, from where it closed at Rs 27.15, up by 1.88% on 10th February 2022 on the BSE.
The quarter ended September results were better for this multibagger stock. Net sales for the Q2 stood at Rs 306 crore which witnessed a slight growth of 1.52% on a sequential basis and a decline of 10.65% on a YoY basis. The EBITDA (exclusive of other income) came in at Rs (50.5) crore, while it had been negative Rs (86.5) crore in the previous quarter as well. The PSU company had witnessed a net loss of Rs (655) crore which was reduced slightly from the previous quarter loss of Rs (689) crore.
The PSU companies in the telecom sector like BSNL and MTNL have been in poor shape in past years. However, Information Technology Minister Ashwini Vaishnaw has announced that the government would be focusing on the revival of the companies.
Mahanagar Telephone Nigam Ltd (MTNL) also offers mobile services in the city of Delhi including four peripheral towns Noida, Gurgaon, Faridabad, and Gaziabad and the Mumbai city as well.
The stock has a 52-week high of Rs 40.85 and a 52-week low of Rs 11.84.
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