MTNL Shares Surge 10%, Reach New 52-Week High Ahead of 2024 Budget Day

As the country prepares for the budget presentation tomorrow, July 23, shares of Mahanagar Telephone Nigam Limited (MTNL) have seen a remarkable rise. On Monday, December 22, MTNL shares surged by 10% to Rs 76.25, marking a new 52-week high for the stock. The shares had previously closed at Rs 69.32 on Friday.

MTNL shares have experienced an impressive gain of over 80% in the past seven days. On July 11, 2024, the shares were trading at Rs 42.30, and they have since climbed to Rs 76.25. In the last five days alone, the shares have risen by 61%, up from Rs 47.38 on July 15, 2024.

Over the past year, MTNL shares have seen a staggering increase of 287%. On July 22, 2023, the shares were priced at Rs 19.74, and they have now reached Rs 76.25. Additionally, the shares have gained nearly 130% so far this year. At the start of 2024, on January 1, the shares were trading at Rs 33.23. Given this trend, it is anticipated that the shares may continue to rise in the coming days. With the budget presentation on the horizon, the market is closely watching MTNL and other stocks for further developments.