Mahanagar Telephone Nigam (MTNL) witnessed a rise in share price on Thursday after the media reports stated the government has provided financial support to the company. As per reports, the cabinet approved an extension of financial support Rs 4.58 billion to MTNL on surrender of 800 MHz CDMA carriers in few of their circles.

Shares of MTNL are trading at Rs 21.35, up Rs 0.35, or 1.67% at the Bombay Stock Exchange (BSE) on Thursday at 11:41 a.m. Total volume of shares traded on the bourses today was higher by 225.82% to 3,795,914 compared with 22-day average volume of 1,165,019.

The scrip has touched an intra-day high of Rs 22.30 and low of Rs 21.20. In the earlier session, the shares climbed 6.87%, or Rs 1.35, at Rs 21.