MTNL shares rose as much as 17.3% to reach an intraday high of ₹26.94 on the National Stock Exchange on Thursday, October 1, after its board of directors approved the proposal to sell and transfer its property in Powai to the Income Tax Department. The approval was reflected in the share price movement on the day of the announcement.

A regulatory filing states that MTNL will sell and transfer a land area of 20,895.60 square metres at Powai Plot-C, Technology Street, Powai, Mumbai – 400 076 to the Income Tax Department. The transfer will occur at a sale value of ₹891.53 crore through a Government‑to‑Government (G2G) Transfer / Direct Sale, following the Income Tax Department’s formal acceptance and based on Presidential Approval and Alternative Mechanism (AM) approval.

In the April‑June quarter of the 2026‑27 financial year (Q1 FY27), MTNL reported a consolidated net loss of ₹842.36 crore, compared with ₹943.15 crore in the same period last year. Revenue from operations rose 25.9% year‑on‑year to ₹216.89 crore, up from ₹172.22 crore in the June quarter of the 2025‑26 fiscal year (Q1 FY26).

In August 2026, MTNL recorded a decline in subscriptions, losing 5,879 subscribers as reported by the Telecom Regulatory Authority of India (TRAI). At around 12:08 PM on October 1, the shares were trading 9.62% higher at ₹25.18 each. The scrip has surged more than 8% in the past week, declined 3% over the month, and has fallen 29% on a year‑to‑date basis.

MTNL’s 52‑week high of ₹44.67 per equity share was reached on November 3, 2026, while its year’s low of ₹21.26 per unit was recorded on March 30, 2026. As of October 1, 2026, the company’s total market capitalisation was ₹1,590.75 crore according to NSE data.