31 Oct, EOD - Indian

SENSEX 79389.06 (-0.69)

Nifty 50 24205.35 (-0.56)

Nifty Bank 51475.35 (-0.64)

Nifty IT 40407.55 (-3.03)

Nifty Midcap 100 56112.85 (-0.40)

Nifty Next 50 69911.75 (-0.51)

Nifty Pharma 22735.55 (1.61)

Nifty Smallcap 100 18602.6 (1.15)

31 Oct, EOD - Global

NIKKEI 225 39081.25 (-0.50)

HANG SENG 20317.33 (-0.31)

S&P 5722.87 (-1.65)


Hot Pursuit News

You are Here : Home > News > Hot Pursuit News >

(07 Oct 2024, 16:44)

MTNL hits the floor after SBI declares term loan account as NPA

Mahanagar Telephone Nigam (MTNL) was locked in an lower circuit of 5% to Rs 52.14 after the State Bank of India (SBI) downgraded the company's term loan account to a non-performing asset (NPA) due to non-payment of dues.


Shares of State Bank of India slipped 3.36% to settle at Rs 769.80 on the BSE.

The State Bank of India has classified MTNL’s term loan agreement as a Non-performing Asset (NPA) due to overdue instalment and interest payments. The total outstanding amount is Rs 325.53 crore, of which Rs 281.62 crore in overdue.

The bank has requested MTNL to pay the overdue amount immediately to regularize the account and avoid a penal interest rate. Additionally, the bank has sought clarification regarding the status of the government’s plan to pay MTNL dues and the land monetization plan.

Mahanagar Telephone Nigam is engaged in providing telecom services in the geographical area of Mumbai and Delhi.

The company’s consolidated net loss narrowed to Rs 773.46 crore in Q1 FY25 from net loss of Rs 851.93 crore recorded in Q1 FY24. Revenue from operations fell 7.8% YoY to Rs 183.85 in Q1 FY25.

More News
More Company News View Company Information