MTNL

Feb 12 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• MAHANAGAR TELEPHONE NIGAM DEC-QUARTER CONSOL LOSS 8.97 BILLION RUPEES

• MAHANAGAR TELEPHONE NIGAM DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 1.98 BILLION RUPEES

Source text: ID:nnAZN4SGCMP

Further company coverage: MTNL.NS

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Feb 2 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• MAHANAGAR TELEPHONE NIGAM LTD - ORDERED TO PAY 1 MILLION RUPEES PENALTY FOR MAY, JUNE 2025

Source text: ID:nBSE4p4k2t

Further company coverage: MTNL.NS

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Jan 15 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• MAHANAGAR TELEPHONE NIGAM - TOTAL AMOUNT OF OUTSTANDING BORROWINGS FROM BANKS AT 90.36 BILLION RUPEES AS ON DEC 31, 2025

Source text: ID:nNSE4hBYbJ

Further company coverage: MTNL.NS

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Jan 9 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• COULD NOT FUND ESCROW ACCOUNT IN BANK OF INDIA WITH ADEQUATE AMOUNT DUE TO INSUFFICIENT FUNDS

Source text: ID:nBSE9f1tHp

Further company coverage: MTNL.NS

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Nov 4 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• MAHANAGAR TELEPHONE NIGAM LTD - COMPLETES FUNDING FOR BOND INTEREST DUE NOV 7, 2025

Source text: ID:nBSE8hKFfM

Further company coverage: MTNL.NS

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Oct 10 (Reuters) - Mahanagar Telephone Nigam MTNL.NS:

• COMPLETES FUNDING FOR 7.05% BOND SERIES V INTEREST PAYMENT

Source text: ID:nBSE5TmGrl

Further company coverage: MTNL.NS

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Aug 21 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• COMPLETES FUNDING FOR 7.80% MTNL BOND SERIES VIID INTEREST PAYMENT

Source text: ID:nBSEbWPcZM

Further company coverage: MTNL.NS

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Aug 18 (Reuters) - Mahanagar Telephone Nigam Ltd (MTNL) MTNL.NS has defaulted on loan repayments worth 86.59 billion rupees ($990.48 million) to a group of seven public sector banks, the state-run telecom company said on Monday.

In July, MTNL had disclosed defaults of 85.85 billion rupees to the same lenders.

The default includes 77.94 billion rupees in principal and 8.65 billion rupees in overdue interest to lenders including Union Bank of India UNBK.NS, Bank of India BOI.NS, Punjab National Bank PNBK.NS and State Bank of India SBI.NS.

The debt-laden operator, which has long struggled with falling subscriber numbers, mounting losses and shrinking relevance in India’s highly competitive telecom market, has been surviving largely on government support and debt roll-overs.

MTNL’s total debt has risen to 345.77 billion rupees ($3.96 billion) as of July 31, from 344.84 billion rupees in June-end, which also includes sovereign-guaranteed bonds and loans from the Department Of Telecommunications.

($1 = 87.4225 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru; Editing by Janane Venkatraman)

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BENGALURU, July 15 (Reuters) - India's Mahanagar Telephone Nigam MTNL.NS has defaulted on loans totaling 85.85 billion rupees ($1 billion), the public-sector telecom firm said on Tuesday.

The loans were made by seven public sector, with Union Bank of India UNBK.NS and Indian Overseas Bank IOBK.NS having the biggest exposure, MTNL said in an exchange filing.

($1 = 85.8860 Indian rupees)

(Reporting by Nishit Navin; Editing by Anil D'Silva)

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** Shares of India's Mahanagar Telecom Nigam Ltd (MTNL) MTNL.NS climb 4% to 51.44 rupees

** Department of Telecommunications (DoT), part of India's federal communications ministry, has asked state governments to use services of state-owned MTNL and unlisted Bharat Sanchar Nigam Ltd (BSNL), citing data security needs, Economic Times reported

** If implemented, it could cost private telecom and internet service providers (ISPs) thousands of crores in potential annual revenue, ET report added, citing industry insiders

** Shares of private telcos Bharti Airtel BRTI.NS and Vodafone Idea VODA.NS down 0.3% and 1% respectively; Reliance RELI.NS, parent of Jio, down 0.5%

** MTNL and BSNL did not immediately respond to Reuters' request for comment on the report

** Trading volumes of MTNL ~14 mln shares vs 30-day avg. of 8.2 mln

** YTD stock up 2.4%

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Mahanagar Telephone Nigam MTNL.NS slump 7.7% to 45.14 rupees

** Telecom co said it has defaulted on payments to seven banks including Union Bank of India UNBK.NS, State Bank of India SBI.NS and Punjab National Bank PNBK.NS

** Its current total principal default amount to the banks stands at 77.94 bln rupees ($898 mln), overdue interest stands at 4.83 bln rupees

** Stock snaps two straight sessions of gains; eyes worst day in over five weeks

** MTNL gained 14.9% last week, it is down ~3% YTD

($1 = 86.7920 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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** India's Mahanagar Telephone Nigam MTNL.NS soars 18% to one-month high of 51.18 rupees

** Stock jumps 20% so far this week, set for best performance since July 2024

** Telecom co earns 21.35 billion rupees ($245 million) in asset monetization of non-core assets such as land and buildings since 2019 up to January 2025, per government's reply in parliament

** Telecom services provider has also earned 2.58 billion rupees ($29.7 million) in asset monetization of core assets such as towers and fiber

** More than 71 million shares traded on the day, 12x six-month daily avg volume

** Stock up 1.6% YTD after today's jump

(Reporting by Vivek Kumar M and Bharath Rajeswaran)

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NEW DELHI, March 12 (Reuters) - India is not privatising telecom firms Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) MTNL.NS, deputy Communications Minister Pemmasani Chandra Sekhar said in reply to a parliament question on Wednesday.

Last month, the federal government had approved an additional capital expenditure plan of 69.82 billion rupees ($800 million) for BSNL, Sekhar added.

The government had approved 60 billion rupees towards 4G network expansion of MTNL and BSNL, local broadcaster CNBC TV18 reported in February.

($1 = 87.2680 Indian rupees)

(Reporting by Hritam Mukherjee in New Delhi; Editing by YP Rajesh)

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Feb 19 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• GETS NOTICE FOR RECOVERY OF OUTSTANDING TDS/TCS DEMAND

• DEMAND NOTICE AT 24.7 MILLION RUPEES

Source text: ID:nBSEbNdzFh

Further company coverage: MTNL.NS

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Feb 10 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• MAHANAGAR TELEPHONE NIGAM - CLARIFIES NO SPECIFIC DECISION ON MEDIA ARTICLE ON CABINET APPROVING 4G PACKAGE

Source text: ID:nBSEcnKQ6

Further company coverage: MTNL.NS

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** Shares of state-run telecom company Mahanagar Telephone Nigam Limited (MTNL) MTNL.NS rise 17.5% to 56 rupees

** Indian govt will assist MTNL and BSNL in monetizing their assets to unlock value and clear liabilities, says Arunish Chawla, secretary of India's Department of Disinvestment and Public Asset Management, at a CNBC-TV18 event

** Stock set for biggest one-day gain since July 18, 2024

** More than 50 million shares traded, 13x the stock's 30-day avg

** Stock rose about 50% in 2024

(Reporting by Aleef Jahan in Bengaluru)

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By Nikunj Ohri and Sarita Chaganti Singh

NEW DELHI, Jan 27 (Reuters) - Indian Prime Minister Narendra Modi is pouring billions into ailing state-run firms after slowing ambitious divestment plans that were intended to reduce the role of the state in business, according to government sources and a document reviewed by Reuters.

Less than a month into 2025, New Delhi has plans to invest about $1.5 billion in financial rescue packages for two state-owned firms after failing to sell them to private companies.

It has also decided to put in "abeyance" privatisation of at least nine state-owned units after opposition from relevant ministries, according to a document that detailed recommendations of a government panel set up to identify privatisation candidates. The document, reviewed by Reuters, did not cite reasons for the decision.

The nine companies include Madras Fertilizers MDFT.NS, Fertilizer Corp of India, MMTC MMTC.NS and NBCC (India) NBCC.NS, the document showed.

Housing and Urban Development Corp HUDC.NS, that was also identified for privatisation, has now been 'exempted' implying it will not be sold, according to the document.

Among the state-owned companies being revived with government funding is helicopter operator Pawan Hans.

The government is planning to infuse around $230 million-$350 million in Pawan Hans to modernise its aging fleet of helicopters after four failed attempts to sell the company, two government sources said.

The amount of infusion is still being finalised as the options being considered for fleet modernisation include both outright acquisition and leasing, one of the sources said.

The sources declined to be identified because of the sensitivity of the issue.

India's finance and civil aviation ministries did not immediately reply to e-mails seeking comment on the privatisation plans or on the Pawan Hans investment.

The fund infusion in Pawan Hans and plans to halt the privatisation of nine firms have not been previously reported.

In 2021, Modi's government announced a major programme to privatise most of India's state-run companies. The plan was so drastic that even in the four sectors that India sees as sensitive, such as telecoms and banking, it wanted to keep only a minimum presence, while exiting from all other sectors.

But now it is planning rescue and revival plans for companies even outside the sensitive sectors.

Last week, the government announced a $1.3 billion plan to revive debt-laden steel producer Rashtriya Ispat Nigam Ltd (RINL).

The government has also allocated 80 billion rupees in 2024/25 for bond repayments of state-run telco MTNL that has seen a series of defaults lately, according to budget documents for the current year.

PRIVATISATION SLOWDOWN

Four years since the privatisation policy was announced, the Modi government has had only three successes, out of which Air India's sale to the Tata Group was the largest. The other two were indirect holdings in steel-maker Neelachal Ispat Nigam Ltd to Tata Steel TISC.NS and Ferro Scrap Nigam to Konoike Transport Co 9025.T.

Other large sales have either been deferred or delayed.

The U-turn in policy was partly driven by the expectation that some large state-owned firms could be overhauled and made more profitable, helping the government earn dividend income, Reuters has reported previously.

Political pressures on Modi have increased after he came back to power in mid-2024 only with the help of regional allies, making it more difficult to overcome opposition to privatisation by employee unions fearing job losses.

The sale of state refiner Bharat Petroleum Corp BPCL.NS was rolled back in 2022 after failing to get suitors. The ongoing privatisation of Shipping Corp of India SCI.NS and BEML BEML.NS has been stuck for years due to complications over transfer of land holdings. The government has also been dragging its feet on the sale of a majority stake in IDBI Bank IDBI.NS.

In previous years, privatisation formed an important part of the government’s plan to reduce its budget gap. But with the federal fiscal deficit seen falling to a more comfortable 4.9% of GDP in the 2024-25 year, the fiscal push for divestment has waned.

New Delhi is expected to miss its internal stake sale target of 180 billion to 200 billion rupees in 2024-25 (April-March) for the sixth straight year. As of January, government has mopped up 86.25 billion rupees via stake sales in 2024/25.

($1 = 86.4250 Indian rupees)

(Reporting by Nikunj Ohri and Sarita Chaganti Singh; Editing by Ira Dugal and Raju Gopalakrishnan)

(([email protected]; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))

Jan 17 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• MAHANAGAR TELEPHONE NIGAM - EXTENSION OF ADDITIONAL CHARGE OF CMD TO A. ROBERT J. RAVI

Source text: ID:nBSE5QXsfs

Further company coverage: MTNL.NS

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Jan 14 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• EXTENSION OF ADDITIONAL CHARGE OF POST OF CMD TO A. ROBERT J. RAVI

• EXTENSION OF ADDITIONAL CHARGE FOR THREE MONTHS

Source text: ID:nBSE2dgjg6

Further company coverage: MTNL.NS

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Dec 24 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• APPROVED REDUCTION IN EMPLOYEE COST OF MTNL BY OFFERING VRS

Further company coverage: MTNL.NS

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** India's Mahanagar Telephone Nigam Ltd MTNL.NS settles 7.7% higher, after climbing as much as 13.7% earlier in the session

** Logs best day since late-August

** State-run telecom firm says it can not fund escrow for a bond payment due to insufficient funds but sovereign guarantee will be invoked

** Under guarantee, government of India obliged to make payment - company

** Stock logs busiest trading session since early-August, volumes at 13.1x the 30-day avg

** MTNL up 74% YTD

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Mahanagar Telephone Nigam Ltd (MTNL) MTNL.NS down as much as 4.7% to 42.23 rupees, its lowest in over four months

** State-run telecom firm's Sept-qtr consol net loss widened to 8.90 bln rupees ($105.5 mln) from 7.93 bln rupees a year ago

** Rev from ops dropped 12% y/y to 1.74 bln rupees, expenses grew 4.5%

** Stock last down ~2%, trimming YTD gains to 29%

($1 = 84.3820 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Nov 14 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• MAHANAGAR TELEPHONE NIGAM SEPT-QUARTER CONSOL LOSS 8.9 BILLION RUPEES

• MAHANAGAR TELEPHONE NIGAM SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 1.74 BILLION RUPEES

Source text: ID:nBSE5pVQ6Y

Further company coverage: MTNL.NS

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Oct 17 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• PUNJAB AND SIND BANK INFORMED THAT ACCOUNTS OF CO HAS TURNED INTO NPA

Source text for Eikon: ID:nNSE9GGMbF

Further company coverage: MTNL.NS

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Sept 18 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• MAHANAGAR TELEPHONE NIGAM - LETTER RECEIVED FROM PUNJAB NATIONAL BANK (PNB) DTD

• MAHANAGAR TELEPHONE NIGAM - LOAN ACCOUNTS OF MTNL HAS BEEN DOWNGRADE TO NPA ON SEPT 9

• MAHANAGAR TELEPHONE NIGAM LTD - DOWNGRADE DUE TO NON- PAYMENT OF INTEREST AND INSTALMENT

Source text for Eikon: ID:nBSE3cj53d

Further company coverage: MTNL.NS

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Sept 11 (Reuters) - NBCC (India) Ltd NBCC.NS:

• NBCC - MEMORANDUM OF UNDERSTANDING BETWEEN NBCC (INDIA) AND MAHANAGAR TELEPHONE NIGAM

• NBCC - MOU FOR 16 BILLION RUPEES

Source text for Eikon: ID:nBSEbldL2R

Further company coverage: NBCC.NS

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** Shares of state-run telecom firm Mahanagar Telecom Nigam Ltd (MTNL) MTNL.NS fall ~2% to 60.5 rupees

** Co on Wednesday said all its accounts with Union Bank of India UNBK.NS have been frozen as its loan account slipped into non-performing asset

** No details about the loan accounts were disclosed

** UNBK stock edges 0.1% lower

** With session's loss MTNL trims YTD gains to around 80% while UNBK is up 3.5%

(Reporting by Hritam Mukherjee in Bengaluru)

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** 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)

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Mahanagar Telephone Nigam Ltd MTNL.NS:

• INDIAN GOVERNMENT HAS PROVIDED 1.53 BILLION RUPEES TO MTNL FOR INVOCATION OF TWO GUARANTEES- GOVERNMENT SOURCE

Source text for Eikon: [ID:]

Further company coverage: MTNL.NS

MUMBAI, July 17 (Reuters) - India's Mahanagar Telephone Nigam Ltd (MTNL) MTNL.NS has made the requisite payment due to be paid to its bondholders later this week, the state-run telecom operator informed the exchanges on Wednesday.

MTNL had to deposit the interest for the semi-annual 7.59%, July 2034 bonds in the third-party escrow account 10 days ahead of the due date, according to the terms of the bond issue, but it failed to do so.

As a result, the government guarantee was invoked in what is likely the first such case, according to merchant bankers.

The struggling state-run company had received 936 million rupees ($11.21 million) from the government for the interest payment as per the guarantee agreement for the bonds, as it did not have sufficient funds for the payout.

Due to the invocation of the guarantee, the government had to transfer the funds three days before the actual payout date.

"There was not much of a concern of default but possibly the communication could have been better and done in advance. It seems like the government may have wanted to react as per the sequence of the payment structure," a merchant banker said requesting anonymity.

The bonds are rated AAA (CE) by India Ratings and Careedge because the interest and principal payment are guaranteed by the federal government.

Indian bond market participants are also expecting the government to help towards other upcoming interest and principal payments for MTNL bonds.

The struggling state-run telecom services provider has to clear an interest payment of 1.4 billion rupees from other bonds over the next two months.

($1 = 83.5330 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Janane Venkatraman )

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