MTNL inches up after raising funds via debenture issue

The company made the announcement after market hours on Tuesday, 2 April 2013.

Meanwhile, the S&P BSE Sensex was down 46.64 points or 0.24% at 18,994.31.

On BSE, 19,000 shares were traded in the counter as against average daily volume of 4.58 lakh shares in the past one quarter.

The stock hit a high of Rs 21.20 and a low of Rs 20.95 so far during the day. The stock had hit a 52-week high of Rs 45.25 on 30 August 2012. The stock had hit a record low of Rs 17.70 on 22 March 2013.

The stock had underperformed the market over the past one month till 2 April 2013, sliding 0.71% compared with the Sensex's 0.65% gain. The scrip had also underperformed the market in past one quarter, declining 22.04% as against Sensex's 3.42% fall.

The state-run telecom service provider has equity capital of Rs 630 crore. Face value per share is Rs 10.

Mahanagar Telephone Nigam (MTNL) said it has floated non-convertible debentures (in the form of Bonds) at the rate of 8.57% Semi-annual, under Sovereign Guarantee, on private placement basis, which has been subscribed to the extent of Rs 1005 crore. The allotment in respect of this bond issue has been made on 28 March 2013, MTNL said.

MTNL reported net loss of Rs 1182.18 crore in Q3 December 2012, higher than net loss of Rs 929.77 crore in Q3 December 2011. Net sales declined 1.3% to Rs 832.95 crore in Q3 December 2012 over Q3 December 2011.

MTNL provides basic phone, internet and cellular mobile telephony services in Delhi and Mumbai. The Government of India (GoI) holds 56.25% stake in MTNL (as per the shareholding pattern as on 31 December 2012).

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