India's MTNL falls after defaulting on bank payments

Mahanagar Telephone Nigam

06/08/2024 10:05

**  Shares of Mahanagar Telephone Nigam  MTNL.NS  down 5% to
67.8 rupees
    ** The telecommunications services provider defaulted in
payment of principal & interest to banks
    ** Total default as on Aug 1 at 4.22 bln rupees ($50.3 mln)
    ** Stock extends its losses for seven straight sessions
    ** Stock up ~101.4% YTD
    


($1 = 83.9100 Indian rupees)

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.das@thomsonreuters.com))