MTNL Share Price: State Bank of India (SBI) has declared the loan accounts of debt-ridden government company MTNL as sub-standard non-performing asset (NPA) due to non-payment of installments and interest since June 30. The government telecom company gave this information to the stock market. SBI had said in the information given to the stock market on October 1 that as of September 30, the total outstanding on MTNL loan account was Rs 325.52 crore.
What did the company say
MTNL said- SBI through its letter dated October 1, 2024 informed that MTNL’s term loan account number 36726658903 has been put in NPA – Sub Standard category with effect from September 28, 2024 due to non-payment of interest and installment. Banks classify those accounts as NPA – substandard, whose non-payment period is less than 12 months and which have the capacity to repay the dues. SBI said in the letter that MTNL owed Rs 281.62 crore, and this should be paid immediately to regularize the account.
crashed stock
Talking about MTNL share, it is Rs 54.88. On Friday, it closed 3.55% lower than the day before. The share price on July 29, 2024 was at Rs 101.88. The share price was at a low of Rs 25.22 in October 2023. This is the 52 week high and low of the stock respectively.
MTNL in crisis
Recently MTNL had informed that its loan account with Punjab National Bank (PNB) has been declared NPA due to non-payment of interest and installment. At the same time, Union Bank of India has frozen all the accounts of debt-ridden government telecom company MTNL for non-payment of dues.
How much is owed to which bank?
According to details shared by MTNL in August, it owed Rs 155.76 crore to Union Bank of India, Rs 140.37 crore to State Bank of India, Rs 40.33 crore to Bank of India, Rs 40.01 crore to Punjab & Sind Bank, Punjab Rs 41.54 crore has not been paid to National Bank and Rs 4.04 crore has not been paid to UCO Bank.
