MTNL, HMT hit fresh 52-week highs; zoom up to 78% in two weeks

Shares of two state-owned companies, Mahanagar Telephone Nigam Limited (MTNL) and HMT rallied up to 17 per cent on the BSE in intra-day trade on Wednesday, hitting their respective fresh 52-week highs, amid heavy volumes. In the past two weeks, these stocks have zoomed up to 78 per cent, against less than 1 per cent gain in the S&P BSE Sensex.

MTNL’s stock surged 17 per cent to Rs 21.25 on the back of three-fold jumped in trading volumes. A combined 41 million equity shares of the telecom services provider changing hands on the counter on the NSE and BSE, till 01:06 pm.