Mtnl

MTNL shares spurt 6% after Care Ratings upgrades long-term debt rating

Shares of Mahanagar Telephone Nigam Limited (MTNL) rallied up to 6.34 per cent at 58.49 per share on the BSE in Wednesday's intraday deals

MTNL skyrockets 14% despite default on interest payment for bond series

Shares of state owned telecommunications company MTNL surged 13.68 per cent at Rs 61.89 a piece on the BSE in Thursday's intraday deals

Stocks to watch, November 13: Eicher Motors, Nykaa, BSE, RIL, IndiGo, MTNL

Stocks to watch, November 13: Here are few stocks that will be in limelight for today's session

Expect some clarity on MTNL resolution this quarter: UCO Bank MD & CEO

A year ago, our CD ratio was 67.25 per cent, and it has now reached 71.77 per cent. This improvement is largely a result of the aforementioned credit growth

BSNL making operating profit, added subscribers in last 3 months: Scindia

State-owned telecom giant BSNL has added subscribers in every single month in the last quarter and its subscriber base has grown by 50-60 lakhs as it scripts a turnaround story after recording operating profit in the last two years, Communications Minister Jyotiraditya Scindia said Wednesday. Speaking at Express Adda, he said Bharat Sanchar Nigam Ltd (BSNL) is offering telephone services in remotest village and a network upgrade is improving its service. In June last year, the Union cabinet had approved an Rs 89,047 crore revival package for loss-making state-owned telecom operator deploy 4G and 5G services in a market dominated by private players. Debt-laden BSNL, grappling with poor infrastructure, had posted losses for the past 12 years. "In terms of financials, yes, BSNL was bleeding. But in the last 2 years, we have had a positive EBITDA. So we are not in the red on EBITDA," he said. While EBIDTA is positive, its bottomline was still in red. The minister did not say when the

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

PSU defaults, moral hazards: Can banks keep relying on govt ownership?

MTNL and RINL aren't good stories, particularly when both lenders and investors are getting their appetite for the infrastructure sector back

SBI's notice to MTNL presents an opportunity for ownership change

With mounting debts and dwindling market share, the need for a decisive government strategy is urgent

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

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

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

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

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

NBCC, MTNL sign pact for Rs 1,600 cr worth housing-cum-commercial project

State-owned NBCC (India) Ltd has signed an initial pact to develop a Rs 1,600-crore worth housing-cum-commercial project on a 14-acre land parcel owned by MTNL on Pankha Road in the national capital. In a statement on Thursday, NBCC said that it has signed a Memorandum of Understanding (MoU) with Mahanagar Telephone Nigam Ltd (MTNL) to collaborate and "develop a prominent land parcel of MTNL measuring approximately 13.88 acres located on Pankha Road, New Delhi." This project aims to transform the land into a state-of-the-art residential/ commercial space, leveraging the expertise and resources of both organizations. "The project is valued at Rs 1600 crore approximately," NBCC said. The MoU was signed in the presence of K P Mahadevaswamy, CMD, NBCC, A Robert J. Ravi, CMD, MTNL. MTNL, a leading public sector telecommunications company and NBCC, a Navratna enterprise under the Ministry of Housing & Urban Affairs, have committed to this development project. "NBCC will act as the ...

NBCC shares surge 5% on inking MoU with MTNL for Rs 1,600-cr project

The uptick in NBCC share price came after the company announced that it has inked a memorandum of understanding (MoU) with MTNL for a project worth Rs 1,600 crore.

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 ...

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 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

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 ...

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