State-run telecom Mahanagar Telephone Nigam Ltd (MTNL) is expected to get a tax refund of Rs 1,400 crore as the Income Tax Appellate Tribunal (ITAT) upholds the company's stance on tax dispute. The telecom major would get back Rs 756 crore along with Rs 624-crore interest for four assessment years. However, a one-year decision is still pending for nearly Rs 1,000 crore.

Currently, MTNL is trading at 75.50 up by 3.85% from its previous close. The stock hit a high of Rs 76.95 and a low of Rs 73.20 so far during the day. The volume of the Stock stood at 2584584 shares on NSE at 15.05 hrs IST.

Mahanagar Telephone Nigam Limited (MTNL) is engaged in providing Telecommunications services to its customers in Delhi and Mumbai. It principally provides voice, data & video services on single platform. The major offerings of the company includes public call offices, global system for mobile communications (GSM) cellular services, fixed-line access, integrated services digital network (ISDN) services, mobile and fixed wireless services, code division multiple access (CDMA) technology, value added services, leased line service, telex and intelligent network services. The Govt. of India currently holds 56.25% stake in the company.