Despite their sharp 9.9% climb in Wednesday’s session, shares in state-run Indian telecom firm Mahanagar Telephone Nigam Ltd., or MTNL, look far from being tired, judging by their over 7% rise Thursday to 65.60 rupees — the highest level in over a month.
Until Wednesday media reports claiming that Bharat Sanchar Nigam Ltd. — another state-run telecom firm — had asked the government to refund the amount it paid for 3G spectrum and intended to seek a waiver for the amount that it must pay for new broadband wireless internet radio bandwidth it received recently, led to speculation that MTNL might do the same and may have fueled the rise.
MTNL-stock-continues-to-ring
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