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Shares of state-owned Mahanagar Telephone Nigam Ltd (MTNL) on Wednesday spurted as much as 9.9 per cent to a three-week high of ₹9.4.
Earlier, Union Telecom Minister Ravi Shankar Prasad iinformed the Lok Sabha that a comprehensive revival plan is underway for PSU telecom players.
Read also: Comprehensive revival plan underway for BSNL, MTNL, says Prasad
MTNL and BSNL were not immediately reachable for comment.
Around 1.4 million shares changed hands in early trade, versus 30-day average of 2.4 million shares, The stock registers sharpest intra-day gain in one week
MTNL shares are down 47.2 per cent this year as of last close, while private-sector telco Bharti Airtel is up 23.2 per cent; Vodafone Idea, post merger, is down 48.7 per cent this year.
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