Mahanagar Telephone Nigam on Saturday said that market capitalisation of the corporation had come down considerably less than its net worth mainly due to the bearish market and the changing scenario of telecom sector and some strategic decisions would have to be taken soon to improve the market.
Expressing concern over the sliding market value of MTNL scrip at bourses, newly-appointed MTNL chairman and managing director Narender Sharma said, "there would be strategic decisions... We shall have reorientation in the changed opening up of telecom sector."
MTNL's share value has declined to Rs 116 this week from a high of more than Rs 350 this year.
With a workforce of nearly 61,000 people, the zero-debt company would get tremendous opportunities in the opened-up environment of the telecom sector, he told reporters.
Sharma, who was secretary with the telecom regulatory authority of India, said MTNL would launch its cellular services in Delhi and Mumbai "a day earlier than it is practical".
MTNL's director finance S Sundresan had earlier said that MTNL would start the services in two metro cities in November.
Addressing its first conference, Sharma said that "MTNL's cellular services will be affordable." Bureau Report