MTNL shares zoom over 17% as board approves sale of Powai property to Income Tax Department

According to a regulatory filing, the company will sell and transfer its property with a land area of 20,895.60 square meters (sqm) at Powai Plot-C, Technology Street, Powai, Mumbai – 400 076 to the Income Tax Department.

The transfer of the property will happen at a sale value of ₹891.53 crore through Government–to–Government (G2G) Transfer / Direct Sale, in accordance with the receipt of the Income Tax Department’s formal acceptance and based on Presidential Approval and Alternative Mechanism (AM) approval, as per the filing.

MTNL Q1 results

The company witnessed its consolidated net loss narrowing to ₹842.36 crore for the April-June quarter of the 2026-27 financial year (Q1 FY27), compared with ₹943.15 crore in the same period last year.

Its revenue from operations rose 25.9% year-on-year (YoY) to ₹216.89 crore during the quarter under review, as against ₹172.22 crore in the June quarter of the 2025-26 fiscal year (Q1 FY26).

In August 2026, MTNL saw a decline in subscriptions, as it lost 5,879 subscribers, as per the Telecom Regulatory Authority of India (TRAI).

MTNL stock performance

At around 12:08 PM, the shares of the company were trading 9.62% higher at ₹25.18 apiece.

While the scrip has surged more than 8% in the past week, it has declined 3% over the month. On a year-to-date (YTD) basis, it has fallen 29%.

The stock hit a 52-week high of ₹44.67 per equity share on November 3, 2026, and touched a year’s low of ₹21.26 per unit on March 30, 2026.

Mahanagar Telephone Nigam Ltd has a total market capitalisation of ₹1,590.75 crore as of October 1, 2026, according to data on the NSE.