NEW DELHI: Shares of Mahanagar Telephone Nigam (MTNL) jumped 19 per cent in Thursday's session after reports emerged that the Digital Communications Commission (DCC) discussed the revival plan for state-owned BSNL and MTNLNSE 15.83 %.
An ETNow report said that the members of DCC discussed the revival plan of the two telecom companies along with time needed for them to come back to health and plan to achieve higher revenue.
Separately, a TRAI data on Wednesday showed that MTNL mobile customer base reduced to 46,409 with loss of 3,963 subscribers in December. However, BSNL reported some additions in its user base.
Meanwhile, DCC on Thursday deferred the decision on cumulative penalty of Rs 3,050 crore on Airtel, Vodafone and Idea to its next meeting.
The telecom watchdog Trai in October 2016 recommended imposing the total penalty of Rs 3,050 crore on Bharti AirtelNSE 0.29 %, Vodafone and Idea for allegedly denying interconnectivity to newcomer Reliance Jio.
In an earlier report, ET had reported that state-controlled telco MTNL was expecting the government to soon allow Rs 4,130 crore worth of refund it sought on account of interest cost borne on Broadband Wireless Access (BWA) spectrum in 2010 and a monetisation scheme that could dr ..
“We hope to get somewhere around Rs 20,000 crore from the monetisation of 49 assets, and clearance for a refund of Rs 4,130 crore which is under active consideration,” MTNL chairman PK Purwar told ETT, adding that the fund would help in cash flow and investments in networks.
The shares of the company closed 15.65 per cent up at Rs 13.89 on BSE
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