Mahanagar Telephone Nigam Ltd (MTNL)

MTNL Shares Surge on Government Funds Allocation - 24 Jul, 2024

Mahanagar Telephone Nigam Ltd (MTNL) shares have surged over 100% since July 10th, with an 80% increase in just six trading days following a government deposit of Rs 92 crore. The government also allocated Rs 3,668.97 crore to pay off MTNL's principal amount of bonds during the Union Budget 2024.

MTNL Shares Locked in Upper Circuit Ahead of Budget Announcement - 23 Jul, 2024

Shares of Mahanagar Telephone Nigam Ltd. (MTNL) are locked in another 10% upper circuit on Tuesday ahead of the Union Budget announcement. The stock has doubled in just eight trading sessions, with most funds earmarked for BSNL and MTNL expenses.

MTNL Defaults on Loan Repayment, Government Assures No Default on Bond Dues - 19 Jul, 2024

Mahanagar Telephone Nigam Ltd (MTNL) has defaulted on a loan repayment of Rs 37.5 crore, while the government assures that there will be no default on bond dues. The state-owned telco's operations are set to be transferred to BSNL as asset monetisation efforts continue.

MTNL Stock Hits Multi-Year High After Govt Deposits Funds - 18 Jul, 2024

Shares of Mahanagar Telephone Nigam Ltd (MTNL) hit a multi-year high at Rs 63.32, rising 19% following the government's deposit of Rs 92 crore to clear immediate bond interest dues for the state-owned firm. The telecom company's market cap rose to Rs 4,033 crore. MTNL has a beta of 1.4 and an RSI of 79.3, indicating very high volatility in a year and trading in the overbought zone.

MTNL Shares Rise Amid Reports of Possible Handover to BSNL - 17 Jul, 2024

Shares of MTNL have risen by almost 29% in four sessions due to reports of a possible handover to BSNL. Meanwhile, MTNL has invoked the government guarantee after failing to deposit interest for its July 2034 bonds.

MTNL Stock Rises Amid Government Intervention - 16 Jul, 2024

The Indian government has stepped in to help Mahanagar Telephone Nigam Ltd (MTNL) by paying its bond dues and honouring interest obligations. The government is also planning to restructure MTNL's debt and transfer its operations to Bharat Sanchar Nigam Limited (BSNL). Despite losses and falling revenue, MTNL's stock has rallied 31% in the last four trading days.

MTNL Stock Rallies on Possible Takeover Reports; Government to Rescue Cash-Strapped Company - 15 Jul, 2024

Mahanagar Telephone Nigam Ltd (MTNL) has been in the news due to its financial struggles and defaulting on loan payments. However, recent reports suggest that the government may hand over operations of MTNL to BSNL. Additionally, India Ratings will monitor MTNL's developments as a government guarantee for a bond issue was invoked. The government has also announced plans to rescue the company by ensuring bondholders receive their guaranteed interest payments.

MTNL Faces Default Risk, Government Steps In - 14 Jul, 2024

The government has assured that it will pay the bond dues and interest on MTNL's debt obligations before the due date of July 20. However, MTNL may still default on more loan repayments this year due to a severe paucity of funds. The government is also considering handing over operations of MTNL to BSNL.

MTNL's Financial Woes Continue - 13 Jul, 2024

Mahanagar Telephone Nigam Ltd (MTNL) is facing mounting financial woes as it is unable to make interest payments to certain bondholders due to insufficient funds. The government is considering handing over MTNL operations to BSNL through an agreement instead of a merger.

MTNL Stock Shows Potential for Upside - 28 Jun, 2024

Mahanagar Telephone Nigam Ltd (MTNL) has broken out on its monthly, weekly, and daily charts, with strong support at 40 and 33-30. The stock faces a strong hurdle at 50.