MTNL shares zoom 10% as cabinet approves Rs 6,000 crore package for 4G expansion BSNL struggles with customer losses due to lack of pan-India 4G services
MTNL Shares Zoom 10% Following Major 4G Expansion Announcement
In a significant boost for the telecom sector, MTNL shares have surged by 10% after the Union Cabinet approved a Rs 6,000 crore package aimed at expanding 4G services. This decision comes as a lifeline for the state-run company, which has been grappling with customer losses primarily due to the absence of pan-India 4G services.
The Struggles of BSNL and MTNL
BSNL, which also oversees MTNL’s operations in the metropolitan hubs of Delhi and Mumbai, has witnessed a declining customer base. The lack of competitive 4G services has left it lagging behind private players, making this expansion initiative crucial for regaining market share.
What the Rs 6,000 Crore Package Means
This financial package is set to enhance MTNL’s infrastructure, enabling it to roll out 4G services across its operational areas. Industry experts believe that this move could not only stabilize MTNL’s market position but also rejuvenate the overall telecom ecosystem in India.
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Conclusion
The approval of the Rs 6,000 crore package for MTNL marks a pivotal moment for the state-run telecom giant. As it embarks on its 4G expansion journey, both MTNL and BSNL have the potential to reclaim their stature in the ever-evolving Indian telecom landscape. Stay tuned with Looffers.com for more insights and updates!
