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Mahanagar Telephone Nigam Ltd News

MTNL soars 9% as co plans 'not to shut shop' or go to NCLT, say reports

The government plans to keep MTNL as a 'going concern' as the company going to NCLT will not set the right precedent for other PSU companies

MTNL soars 9% as co plans 'not to shut shop' or go to NCLT, say reports
Updated On : 14 Oct 2024 | 2:14 PM IST

SBI declares MTNL account as NPA: Share price down 8% today, 15% in 3 days

MTNL share price: MTNL share price declined 7.5 per cent to Rs 48.2 per share on the BSE in Tuesday's intraday trade

SBI declares MTNL account as NPA: Share price down 8% today, 15% in 3 days
Updated On : 08 Oct 2024 | 10:52 AM IST

SmallCap index down 3%; IIFL Securities, Geojit freeze in 10% lower circuit

PC Jeweller, MTNL, Kitex Garments, 63 Moons Tech, Genus Power, Refex Industries, Solara Active Pharma, and Suraj Estates Developers were locked in 5 per cent lower circuit on the BSE.

SmallCap index down 3%; IIFL Securities, Geojit freeze in 10% lower circuit
Updated On : 07 Oct 2024 | 12:08 PM IST

Telecoms may be holding off on 5G expansion to strengthen 4G: Here's why

Major telecom service providers in India Reliance Jio, Bharti Airtel appear to be prioritising 4G expansion over 5G

Telecoms may be holding off on 5G expansion to strengthen 4G: Here's why
Updated On : 07 Oct 2024 | 11:46 AM IST

SBI declares MTNL a non-performing asset amid Rs 325.53 crore debt

SBI warns telecom firm MTNL that payment failure would result in a penal interest rate being applied to the outstanding balance

SBI declares MTNL a non-performing asset amid Rs 325.53 crore debt
Updated On : 05 Oct 2024 | 3:51 PM IST

MTNL shares drop 5% after PNB downgrades co's loan account to NPA

The fall in the stock price follows MTNL's announcement to the exchanges, in which it said that Punjab National Bank (PNB) has downgraded the loan accounts of the company to NPA

MTNL shares drop 5% after PNB downgrades co's loan account to NPA
Updated On : 19 Sep 2024 | 2:41 PM IST

Govt to pay MTNL's bond interest payment again, say DoT officials

But the government is unwilling to pay for loans taken by MTNL, say sources

Govt to pay MTNL's bond interest payment again, say DoT officials
Updated On : 15 Sep 2024 | 11:46 PM IST

Union Bank freezes accounts of telecom firm MTNL over non-payment of dues

Union Bank of India has frozen all accounts of state-run telecom company MTNL for non-payment of dues, a regulatory filing said on Wednesday. Union Bank of India informed the company on August 21 about freezing of all its accounts over non-payment of loans, debt-ridden MTNL said. "This is to inform you that Union Bank of India vide its Letter... dated August 21, 2024 has informed MTNL that its account has slipped to NPA with effect from August 12, 2024 due to which all accounts of MTNL with Union Bank of India have been freezed automatically," MTNL said. Earlier this month, MTNL informed stock exchanges that it has defaulted on bank loan payments worth Rs 422.05 crore. According to the details shared by MTNL, it has defaulted on the payment of Rs 155.76 crore on debt raised from Union Bank of India, Rs 140.37 crore from State Bank of India, Rs 40.33 crore from Bank of India, Rs 40.01 crore from Punjab & Sind Bank, Rs 41.54 crore from Punjab National Bank, and Rs 4.04 crore from ...

Union Bank freezes accounts of telecom firm MTNL over non-payment of dues
Updated On : 29 Aug 2024 | 12:01 AM IST

MTNL-BSNL service agreement awaits as DoT checks for tax implications

The 10-year service agreement is crucial for MTNL which is struggling with a heavy debt load of Rs 31,944.51 crore as well as facing operational challenges

MTNL-BSNL service agreement awaits as DoT checks for tax implications
Updated On : 15 Aug 2024 | 10:41 AM IST

MTNL board approves 10-year service pact, share-sale proposal with BSNL

The MTNL board has approved a service agreement with BSNL for a period of ten years, and also a slew of other proposals, including share-sale in overseas subsidiary Mahanagar Telephone (Mauritius). The board, during its meeting, has also approved sale of shares of MTNL in MTNL STPI IT Services Ltd or MSITS, according to regulatory filing by MTNL. The board "accorded its approval to enter into a service agreement between BSNL and MTNL for a period of 10 years or unless it is revoked earlier by giving a notice of six months or extended by mutual consent between the parties, subject to approval of the said service agreement by Department of Telecom / Ministry of Company Affairs ," it said. It has also approved a proposal related to sale of shares of MTNL in Mahanagar Telephone (Mauritius) Ltd or MTML - an overseas wholly-owned subsidiary - in line with applicable Department of Investment and Public Asset Management (DIPAM) guidelines and other regulatory processes. The board has also

MTNL board approves 10-year service pact, share-sale proposal with BSNL
Updated On : 14 Aug 2024 | 7:32 PM IST

Telecom company MTNL defaults on Rs 422 cr loan payments from various banks

State-owned telecom company MTNL has defaulted on bank loan payments worth Rs 422.05 crore, a regulatory filing said on Monday. The total default amount comprises Rs 328.75 crore default on instalment of principal and Rs 93.3 crore towards interest on debt for June and July. According to the details shared by MTNL, it has defaulted on the payment of Rs 155.76 crore on debt raised from Union Bank of India, Rs 140.37 crore from State Bank of India, Rs 40.33 crore from Bank of India, Rs 40.01 crore from Punjab & Sind Bank, Rs 41.54 crore from Punjab National Bank and Rs 4.04 crore from UCO Bank. The telecom firm earlier raised Rs 5,573.52 crore in debt from these banks. The loss-making telecom firm has total borrowings of Rs 7,873.52 crore from banks and financial institutions, and the total debt of the company stands at Rs 31,944.51 crore. MTNL has sought Rs 1,151.65 crore from the government for payment of interest arising out of sovereign guarantee bonds in the current ...

Telecom company MTNL defaults on Rs 422 cr loan payments from various banks
Updated On : 05 Aug 2024 | 11:58 PM IST

MTNL, Cochin Shipyard, Atul Auto among 505 stocks locked in lower circuits

Of these 505 stocks, as many as 83 per cent or 420 stocks belonged to 'XT', 'T', 'X', and 'Z' categories

MTNL, Cochin Shipyard, Atul Auto among 505 stocks locked in lower circuits
Updated On : 05 Aug 2024 | 1:17 PM IST

MTNL seeks Rs 1,151.65 cr for sovereign guarantee bonds interest in FY25

Debt-ridden state-run telecom firm MTNL has sought Rs 1,151.65 crore for payment of interest arising out of sovereign guarantee bonds in the current fiscal, Parliament was informed on Thursday. Minister of State for Communications Pemmasani Chandra Sekhar in a written reply to the Rajya Sabha said the government has in fact taken various steps for revival of MTNL and BSNL in 2019 and 2022 that include revival package to both companies. "Mahanagar Telephone Nigam Limited (MTNL) has sought Rs 1,151.65 crore to meet the payment of interest on Sovereign Guarantee Bonds for Financial Year 2024-25," Sekhar said. The minister was replying to a question on demands of funds by MTNL from the government to pay interests on debt obligations, details of the demand and the reasons for the state-owned telecom company MTNL making losses. He said the government allocated Rs 69,000 crore in the first revival package in 2019 to BSNL and MTNL that brought down operating costs. "In 2022, revival packa

MTNL seeks Rs 1,151.65 cr for sovereign guarantee bonds interest in FY25
Updated On : 01 Aug 2024 | 5:03 PM IST

Capital gains tax, valuation woes: No stopping the mid, smallcap bulls

From the July 23 Budget 2024-day low, the midcap and the smallcap indices on the BSE have seen a surge of over 6 per cent and 7 per cent respectively

Capital gains tax, valuation woes: No stopping the mid, smallcap bulls
Updated On : 30 Jul 2024 | 10:16 AM IST

IFCI, MMTC, STC, Suzlon, Raymond among 354 stocks locked in upper circuit

IFCI (Rs 84), MMTC (Rs 102.60) and STC India (Rs 203.40) were frozen at the 20 per cent upper limit on the BSE.

IFCI, MMTC, STC, Suzlon, Raymond among 354 stocks locked in upper circuit
Updated On : 24 Jul 2024 | 3:04 PM IST

This PSU telecom stock has zoomed 110% in 2 weeks; hits over 14-year high

MTNL share price was locked in the 5% upper circuit at Rs 88.06, MTNL stock is quoting at its highest level since January 2010

This PSU telecom stock has zoomed 110% in 2 weeks; hits over 14-year high
Updated On : 24 Jul 2024 | 2:16 PM IST

MTNL defaults on Rs 37.5 crore Punjab & Sind Bank loan instalment

The telco owes Rs 5480 crore to the bank, it told exchanges

MTNL defaults on Rs 37.5 crore Punjab & Sind Bank loan instalment
Updated On : 19 Jul 2024 | 3:25 PM IST

MTNL stock soars 19% as govt deposits Rs 92 cr to pay bond interest dues

In past four trading days, the stock has zoomed 50% on reports that the government was considering the option of handing over operations of telecom company to Bharat Sanchar Nigam Limited (BSNL).

MTNL stock soars 19% as govt deposits Rs 92 cr to pay bond interest dues
Updated On : 18 Jul 2024 | 11:02 AM IST

MTNL deposits bond interest payout after invocation of govt guarantee

The struggling state-run company had received Rs 936 million ($11.21 million) from the government for the interest payment as per the guarantee agreement for the bonds

MTNL deposits bond interest payout after invocation of govt guarantee
Updated On : 17 Jul 2024 | 2:21 PM IST

Govt deposits Rs 92 cr to clear immediate bond interest dues of MTNL

The government has stepped in to make a Rs 92 crore payment towards bond dues of MTNL, a government source said, adding that another Rs 64 crore would also be paid in coming days towards interest obligations that are slated to become due in August. The helping hand from the government is significant as it averts a crisis-like situation for the telecom corporation which has been teetering on the brink with regard to its debt obligations, particularly in this case government-guaranteed bonds. Last week, the debt-laden firm had expressed its inability to make interest payments to certain bondholders due to paucity of funds. The government sources said Rs 92 crore is being deposited in an escrow account for payment towards interest on bond dues. Another Rs 64 crore would be paid later this month to clear interest dues that slated to come up in August, sources said. The second semi-annual interest (7.59 per cent) on certain bonds is falling due on July 20, 2024. Amid mounting financial

Govt deposits Rs 92 cr to clear immediate bond interest dues of MTNL
Updated On : 16 Jul 2024 | 5:37 PM IST