Stock Down: This government company could not pay the bank loan, share price decline, investors in trouble

On July 29, 2024, the share went up to Rs 101.88. The stock also has a 52-week high. At the same time, the stock’s 52-week low price is Rs 19.86. The price was in August last year, a stock market filing on Monday said, adding that the total default in repayment of principal installments is Rs 328.75 crore, while Rs 93.3 crore has not been paid as interest.

The state-owned telecom company has defaulted on repayment of bank loans to the tune of Rs 422.05 crore. These shares fell badly on Tuesday amid this news. On the second trading day of the week, the stock hit a low circuit of 5 percent and the price fell to a low of Rs 67.82.

On July 29, 2024, the stock touched Rs 101.88. The stock also has a 52-week high. At the same time, the stock’s 52-week low price is Rs 19.86. This price was in the month of August last year.

Let us tell you that MTNL in a disclosure to the stock market on Monday said that the total default in repayment of principal amount is Rs 328.75 crore, while Rs 93.3 crore has not been paid as interest.

According to details provided by MTNL, it took Rs 155.76 crore from Union Bank of India, Rs 140.37 crore from State Bank of India, Rs 40.33 crore from Bank of India, Rs 40.01 crore from Punjab and Sindh Bank, Rs 40.01 crore from Punjab National. 41.54 crores from UCO Bank and 4.04 crores from UCO Bank defaulted by the bank. However, earlier the company had raised a total loan of Rs 5,573.52 crore from these banks.

Let us tell you that loss-making MTNL owes a total of Rs 7,873.52 crore to banks and financial institutions. The total debt of the company is Rs 31,944.51 crore.

MTNL has received from the government Rs. 1,151.65 crore has been demanded. The government has budgeted Rs. 3,668.97 crore has been proposed to be allocated.