MTNL shares rally 17% as board approves Rs 892 crore Powai property sale amid debt worries
60-Word AI Digest
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.
Key Takeaways
- 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.
- Full details and original dispatch available below.
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.
Original Publisher Attribution
This summary was curated from Economic Times.