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MTNL Share Price Target 2025, 2026, 2027, 2030

2026-04-16 · 3 min read

Sector - Finance
MTNL Share Price Target 2025, 2026, 2027, 2030

Mahanagar Telephone Nigam Ltd (MTNL), a state-owned telecommunications company, has long been an integral part of India's telecom infrastructure.


MTNL Share Price Target

Founded in 1986, Mahanagar Telephone Nigam Ltd (MTNL) was initially established as a public sector undertaking (PSU) to provide telecom services in the metros of Mumbai and Delhi. For years, MTNL held a monopoly on fixed-line telecom services in these cities, which contributed to its early growth. However, with the privatization of the telecom sector, mobile telephony, and the entry of private players, MTNL has found it increasingly difficult to maintain its market share and profitability.

Financial table for MTNL

Market Cap₹ 2,100 Cr.(As of April 2026)
Price to Earnings-
Return on equity%
Debt to equity-
Current ratio0.33
Dividend Yield0.00%
Return on assets-31.8%
ROCE-6.76%
Face Value₹10
52 Week High₹58.2
52 Week Low₹20.3

MTNL Shareholding Pattern



Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Promoters

56.89%

56.89%

56.89%

56.82%

56.25%

56.25%

56.25%

FIIs

0.35%

0.36%

0.37%

0.47%

0.55%

0.14%

0.50%

DIIs

14.76%

14.22%

13.91%

13.89%

13.63%

13.46%

13.43%

Public

28.01%

28.54%

28.84%

28.81%

29.56%

30.15%

29.82%

No. of Shareholders

1,35,301

1,60,245

1,98,355

1,87,064

1,94,974

4,37,424

3,74,944


MTNL Share Price Target 2026, 2027, 2028 to 2030

YEAR 2026

Target Range (₹) : 19-26

for the move Continued losses and reduced government support weaken outlook. Projected Targets:
YEAR 2027

Target Range (₹) : 26

for the move Partial restructuring creates uncertainty without full revival. Projected Targets:
YEAR 2028

Target Range (₹) : 30

for the move Asset monetization provides temporary financial relief. Projected Targets:
YEAR 2029

Target Range (₹) : 35-41

for the move Heavy reliance on government and BSNL ecosystem persists. Projected Targets:
YEAR 2030

Target Range (₹) : 18-26

for the move Final outcome reflects merger or near-zero standalone relevance.

Historic Performance:

MTNL Share Price Target 2020, 2021, 2022, 2023, 2024 & 2025

YEAR 2020

Yearly returns : 46.03%

Start of the year price9.45
End of the year price13.80
Reason : Hopes of government support improved short-term sentiment.
YEAR 2021

Yearly returns : 156.47%

Start of the year price13.90
End of the year price35.65
Reason : Strong rally fueled by speculation around restructuring and turnaround.
YEAR 2022

Yearly returns : -27.36%

Start of the year price36.00
End of the year price26.15
Reason : Weak fundamentals reduced investor confidence.
YEAR 2023

Yearly returns : 27.46%

Start of the year price26.40
End of the year price33.65
Reason : Market reacted to potential government intervention expectations.
YEAR 2024

Yearly returns : 48.53%

Start of the year price33.90
End of the year price50.35
Reason : Strong rally driven by speculation around telecom sector support.
YEAR 2025

Yearly returns : -28.71%

Start of the year price50.50
End of the year price36.00
Reason : Sharp decline due to persistent losses and lack of execution clarity.

Conclusion

Mahanagar Telephone Nigam Ltd (MTNL) remains a significant player in the Indian telecom sector, but it faces numerous challenges related to competition, debt management, and technological lag. While government support and the expansion of 4G and 5G networks provide potential growth drivers, the competitive landscape and declining legacy business are key risks.

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