MTNL shares jumped 7% this week after the company signed a deal with NBCC for a Rs 1,600 cr project.
NBCC (India) Limited has announced a Memorandum of Understanding (MoU) with Mahanagar Telephone Nigam Limited (MTNL) to “develop a prominent land parcel of MTNL measuring approximately 13.88 acres located on Pankha Road, New Delhi.”
The estimated value of the project is approximately ₹1600 crore, underscoring its scale and significance. The MoU was signed in the presence of K P Mahadevaswamy, CMD, NBCC, and A Robert J. Ravi, CMD of MTNL.
Stock Performance on Friday
– Open: ₹59.33
– High: ₹59.33
– Low: ₹59.33
