MTNL share price jumped as much as 8 per cent on Monday after the state-run telecom firm announced that it will soon launch free roaming scheme, allowing customers to receive calls at no extra cost while traveling across the country. BSNL already has such a scheme in place.
At 12.19 pm, the share price of MTNL was up 4.84 per cent at Rs 18.40. The scrip opened at Rs 17.45 and had touched a high and low of Rs 18.95 and Rs 17.20, respectively, in trade so far.
Later, the scrip closed 6.84 per cent up at Rs 18.75.
At present, MTNL customers have to pay roaming charges for incoming calls when they go outside of Delhi and Mumbai. MTNL Chairman and Managing Director NK Yadav told PTI the scheme will be announced soon and they are finalising the dates.
The government under National Telecom Policy 2012 has set a goal to achieve free roaming gradually. Moreover, MTNL has also increased minimum broadband speed to two mega bit per second (Mbps) and is offering free broadband for one month to its landline customers.
In the past one year, the share price of MTNL declined 40.71 per cent to Rs 17.55 on November 13. The share price of the company was at Rs 29.60 on the same day last year. Sensex declined 8.34 per cent during the same period.
(With inputs from PTI)