Markets◆ Mixed
MTNL zooms 17% on board nod to Mumbai property sale worth ₹891.53 cr
Income Tax is in focus.
· Business Standard Mkts
MTNL board approved the sale of property in Powai, Mumbai, worth ₹891.53 crore to the IT department.
The analysis
Income Tax reported ₹891.53 cr and ₹891.53 crore, with movement of 17% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Why it matters
- With Income Tax involved, this carries a regulatory dimension that can outlast the immediate market reaction.