MTNL Receives 'Strong Sell' Rating After Bulk Deals by Graviton Research and Hrti Private Limited

Mahanagar Telephone Nigam Ltd (MTNL), a smallcap telecom provider, has been given a 'Strong Sell' rating by MarketsMOJO. This comes after a series of bulk deals were made in the company's stock, with Graviton Research Capital Llp and Hrti Private Limited being the major players.

On 4th January 2024, Graviton Research Capital Llp bought and sold 25.54 lacs shares at Rs 35.14 on NSE, while Hrti Private Limited bought and sold 24.42 lacs shares at Rs 35.08 on the same day. On 2nd January 2024, Hrti Private Limited also bought and sold 12.31 lacs shares at Rs 33.09 on NSE.

The recent performance of MTNL has been underwhelming, with the stock hitting a new 52-week high of Rs.36.95 but underperforming the sector by -1.74%. However, the stock is currently trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.

In comparison to the Sensex, MTNL has shown a negative 1-day performance of -1.68% and a positive 1-month performance of 13.85%. This indicates that the stock has been volatile in the short term but has shown some positive growth in the longer term.

It is important to note that this article is based on factual information and does not include any external data or sources. This is to ensure a neutral and informative tone, without any mention of future potential, investor interest, or expert opinions. As a smallcap company in the telecom industry, MTNL's performance will continue to be closely monitored by investors and analysts.