<p class="title">Shares of MTNL gained 5 per cent to its highest trading permissible limit for the day after the announcement of a Rs 69,000-crore revival package for the company and BSNL, that includes merging the two loss-making firms.</p>.<p class="bodytext">MTNL's scrip jumped 4.92 per cent to Rs 6.19 -- its upper circuit limit on the BSE.</p>.<p class="bodytext">On the NSE, it rose 4.27 per cent to its highest trading permissible limit for the day at Rs 6.10.</p>.<p class="bodytext">The government on Wednesday approved a Rs 69,000-crore revival package for BSNL and MTNL that includes merging the two loss-making firms, monetising their assets and giving voluntary retirement scheme (VRS) to employees so that the combined entity turns profitable in two years.</p>.<p class="bodytext">The cabinet approved a plan to combine Mahanagar Telephone Nigam Ltd - which provides services in Mumbai and New Delhi - with Bharat Sanchar Nigam Ltd that services the rest of the nation, Telecom Minister Ravi Shankar Prasad said.</p>.<p class="bodytext">MTNL has reported losses in nine of the past 10 years and BSNL too has been ringing in loss since 2010.</p>
<p class="title">Shares of MTNL gained 5 per cent to its highest trading permissible limit for the day after the announcement of a Rs 69,000-crore revival package for the company and BSNL, that includes merging the two loss-making firms.</p>.<p class="bodytext">MTNL's scrip jumped 4.92 per cent to Rs 6.19 -- its upper circuit limit on the BSE.</p>.<p class="bodytext">On the NSE, it rose 4.27 per cent to its highest trading permissible limit for the day at Rs 6.10.</p>.<p class="bodytext">The government on Wednesday approved a Rs 69,000-crore revival package for BSNL and MTNL that includes merging the two loss-making firms, monetising their assets and giving voluntary retirement scheme (VRS) to employees so that the combined entity turns profitable in two years.</p>.<p class="bodytext">The cabinet approved a plan to combine Mahanagar Telephone Nigam Ltd - which provides services in Mumbai and New Delhi - with Bharat Sanchar Nigam Ltd that services the rest of the nation, Telecom Minister Ravi Shankar Prasad said.</p>.<p class="bodytext">MTNL has reported losses in nine of the past 10 years and BSNL too has been ringing in loss since 2010.</p>