Latest news with #MahanagarTelephoneNigamLimited
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Business Standard
5 days ago
- Business
- Business Standard
MTNL stock at ₹51, risky or bargain buy? Here's what chart indicates
MTNL stock seems favourably placed on the short-term charts. Can the recent flow at the counter help it breakout on the long-term chart or will it falter? Here are the key levels to watch out for. Rex Cano Mumbai Listen to This Article Debt-laden Mahanagar Telephone Nigam Limited (MTNL) has been in news lately, with the state-run firm reportedly defaulting on the payment of principal and interest on loans amounting to ₹8,584.93 crore to state-run banks. The overdue amount to PSU banks - Union Bank, Bank of India, Punjab National Bank, SBI, UCO Bank, Punjab and Sind Bank and Indian Overseas Bank stands at ₹7,794.34 crore, and interest of ₹790.59 crore. READ MORE MTNL total debt stands at 34,484 crore, which also includes Sovereign Gold bonds worth ₹24,071 crore, and payment of interest (₹1,828 crore) on Gold
Business Upturn
5 days ago
- Business
- Business Upturn
MTNL funds escrow account for bond interest payment due July 20
By Aditya Bhagchandani Published on July 17, 2025, 15:03 IST Mahanagar Telephone Nigam Limited (MTNL) on Thursday informed the exchanges that it has deposited funds in the designated escrow account to ensure timely payment of interest on its bonds due later this week. The payment pertains to the 4th semi-annual interest on MTNL's 7.59% Secured Redeemable Non-Convertible Bonds (Series VIII A, ISIN: INE153A08154), which is scheduled to be paid to bondholders on July 20, 2025. According to the filing, the company deposited the required amount in the escrow account maintained with Bank of India, New Delhi Main Branch, on July 17, 2025, well in advance of the due date. MTNL stated that this step ensures compliance with the payment obligations and upholds its commitment to bondholders. The disclosure was made under Regulation 30 of SEBI (LODR) Regulations, 2015. This proactive move comes as MTNL continues to meet its debt servicing obligations despite challenges in its core telecom business, underscoring the company's focus on maintaining investor confidence. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Investments in bonds and securities are subject to market risks. Please conduct your own research or consult a qualified financial advisor before making any investment decisions. The author or publisher is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
News18
13-05-2025
- Business
- News18
Govt Moves To Shield MTNL From NPA Tag Amid Rs 8,346 Crore Loan Default
Last Updated: A high-level meeting has been scheduled for May 16 under the chairmanship of Cabinet Secretary TV Somanathan to decide the immediate fate of MTNL's debt-laden balance sheet In a renewed bid to stave off the financial collapse of state-owned telecom operator Mahanagar Telephone Nigam Limited (MTNL), the Centre has moved to prevent its ballooning defaults from triggering a full-blown banking crisis. A high-level meeting has been scheduled for Friday, May 16, under the chairmanship of Cabinet Secretary TV Somanathan to decide the immediate fate of MTNL's debt-laden balance sheet. Senior government officials including Economic Affairs Secretary Ajay Seth, Financial Services Secretary M Nagaraju, Expenditure Secretary V Vualnam and Telecom Secretary Neeraj Mittal, will sit down with chiefs of major public sector banks to discuss a path forward. The core agenda of the meeting is to ensure MTNL's defaults, despite being substantial, do not lead to the company being formally classified as a non-performing asset (NPA). The meeting comes in the wake of MTNL's regulatory filing on April 19, in which it disclosed a massive loan default of Rs 8,346 crore between August 2024 and February 2025 – money borrowed from seven state-run banks. The company, once a flagship in the telecom sector, now finds itself on life support, weighed down by a total debt burden of Rs 33,568 crore as of March 31, 2025. According to filings, the largest chunk of the default – Rs 3,633.42 crore – is owed to Union Bank of India. Indian Overseas Bank follows with unpaid dues of Rs 2,374.49 crore. Bank of India is short Rs 1,077.34 crore, while Punjab National Bank, State Bank of India, and UCO Bank are awaiting payments of Rs 464.26 crore, Rs 350.05 crore, and Rs 180.3 crore respectively. All of these include missed interest and principal payments. Government insiders suggest the May 16 meeting is likely to result in instructions to lenders not to classify MTNL's account as an NPA – at least for now – in order to avoid setting off alarm bells across the financial system. The move is seen as part of a broader effort to prevent further exposure risks and delay formal insolvency proceedings, even as the company remains in deep financial distress. Watch India Pakistan Breaking News on CNN News18. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! First Published: May 13, 2025, 15:46 IST
