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MTNL board approves ₹891.53 crore sale of Powai property to IT department

2 sources · first seen 11:22 1 Oct · updated 11:57 1 Oct

The brief

Written from 2 reports · check the source before you trade

The board approved the sale of MTNL property in Powai, Mumbai, to the IT department
MTNL shares rose 17% in one report and nearly 13% in another
The sale is a potential asset-realisation catalyst for MTNL shareholders

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MTNL’s Powai property sale

MTNL’s board approved the sale of its Powai Plot-C property in Mumbai to the Income Tax Department for ₹891.53 crore. Reports said the stock rose 17% after the approval.

Thursday, 1 October

11:51
Buzzing Stocks: PSU stock jumps 17% after land parcel sale for nearly ₹900 crore
11:302 sources
MTNL to sell Powai property to I-T Dept for ₹891.53 cr amid debt burden
11:222 sourcesYou are here
MTNL board approves ₹891.53 crore sale of Powai property to IT department

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2 reports · earliest 11:22

MoneycontrolMTNL shares zoom nearly 13% after Rs 891.53 crore Powai property sale11:22 Business StandardMTNL zooms 17% on board nod to Mumbai property sale worth ₹891.53 cr11:57