Telecom operator MTNL plans to de-list shares from Delhi,Calcutta and Madras stock exchanges as part of cost reduction measures. The proposal is part of agenda that will be discussed at Annual General Meeting of Mahanagar Telephone Nigam Ltd scheduled on September 28.
“Considering the nil/egligible volume of trading and as a part of its cost reduction measure,the consent of members is sought for getting its securities delisted from Delhi,Calcutta and Madras Stock Exchange as proposed in the special resolution,” MTNL said in a filing at BSE.
However,the company has plans to remain listed on BSE and the National Stock Exchange. “…the securities of the company shall continue to be listed on the stock exchanges having nation wide trading terminals viz the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE),” the filing said. The shares of the company today closed flat at Rs 37.65 a piece at BSE.