MTNL’s share falls under the Telecom Sector and is included in the Telecommunication service provider industry.
The company’s primary work is to supply telecommunication services, mainly in Mumbai and Delhi.
As of September 2024, the public holding for MTNL shares remains at 30.22%; the promoter has the most significant share, 56.25%.
Please note that DII (Domestic Institutional Investors)has 13.47%, and FII (Foreign Institutional Investors) has 0.06% shareholding.
Some of the crucial standalone figures as of the year 2024 are:
- Earning per share (EPS) remains at -52.42; in 2023, it was -46.20.
- ROE is zero, which is not good because the EPS is in the minus figure.
- Total income is 1301 cr. With EBIT remaining at -612 cr.
- Total expenditure is 1913 cr., and the net profit remains -3302 cr.
- Reserves and surplus are -24292 cr.
- Net cash flow is -85.
The company’s standalone figures are not suitable investments for future growth until positive changes are seen in its profit.
The price for the MTNL share as of 12th December 2024 is as follows:
Open – 54.25, High – 61.87, Low – 54.25 and close – 60.57.
As the market is open now, the prices may differ after closing.
Technical analysis
After the company’s horrible fundamental figures, let us now find out if the company’s technical team gave us any chance through the chart.
What is the trend of MTNL share according to the trendline?
The fundamentals suggest that the company might be in trouble because its profit does not exceed its expenditures.
But the technical analysis seems to tell us a different thing. The chart shows us that the stock is preparing to move upside down, as the trendline suggests through the line stretch on the chart.
The line goes from down to up, which indicates that the stock is on an upside trend or preparing to move further in the same direction.
MTNL shares SMA (simple moving average) lines.
The blue line indicates the 50-day SMA, the red line indicates the 21-day SMA and the green line is for the 10-day SMA. SMA means simple moving average.
The moving average, as seen in the chart, indicates a bullish trend in the stock. However, it would have been better if the 50-day SMA line had been below the 21-day SMA line.
As shown in the chart, the stock price is above the three SMA lines, indicating that the stock price is heavier on the SMA lines and that the stock could go upside down.
A good SMA line is always the one in which the ascending order from the upside is shown. For example, the upside should be the lesser day SMA, the more significant day SMA, and so on.
Support & resistance of MTNL share
The stock seems to be cutting the resistance line at around $ 58.
If it surpasses the resistance line, then the second resistance line, which is at around 65, will quickly be touched.
The three possible support and resistance lines are:
Support – 58.10, 54.40 and 51.10.
Resistance – 64.90, 69.60 and 72.50
Chart & candlestick patterns of MTNL share
Candlestick pattern—The candlestick pattern that forms after combining the candlestick of 11th December 2024 is a Bullish engulfing candlestick pattern, which is a sign of bullish movement in the stock.
Chart pattern—The chart shows an ascending bullish channel, indicating that the stock’s momentum is in an upside trend.
Breaking the trendline of the ascending bullish channel from the downside indicates the bearish reversal trend, and upside breaking would continue.
Last thought on MTNL share
Well, as we come to the end of our analysis and after getting the results of fundamental and technical figures, we can now assume that the stock might be going upside for a shorter period of time and coming down from where it had all started, as it had done in the past. Just look at the chart.
