Sell MTNL With Stop Loss Of Rs 57

Sell MTNL With Stop Loss Of Rs 57Stock market analyst Rakesh Bansal of New Age Wealth has maintained 'sell' rating on Mahanagar Telephone Nigam Ltd (MTNL) stock with 10-15 day target of Rs 45.

According to analyst, the investors can sell the stock with stop loss of Rs 57.

Today, the stock opened at Rs 53.85 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 119.90 and a low of Rs 54.20 on BSE.

Current EPS stood at -39.32.

According to sources, MTNL, on June 01, lifted around Rs 2,500 crore from Axis Bank at less than 7%.

MTNL has to pay Rs 6,500 crore for 3G Spectrum. MTNL has decided to pay back the loaning amounts by 2010 end.

With the aim to offer up superior benefits to its GSM mobile service users, MTNL made announcement about the launching of Free 3G Up-gradation for its 2G GSM Dolphin & Trump subscribers in Mumbai telecom circle.

Under the MTNL newest offer, its Postpaid and Prepaid (Dolphin/Trump) 2G subscriber will get up-graded automatically into next generation 3G services without paying any cost.

After transition of all 2G subscribers to 3G, the clients having 3G phones will be capable of making video calls in 3G coverage region.

Moreover, if a subscriber wants to get data services, he/she can forward ACT 3G through SMS to 555 or 444 for Dolphin and Trump customers respectively.