MTNL skyrockets 14% despite default on interest payment for bond series

Shares of state owned telecommunications company MTNL surged 13.68 per cent at Rs 61.89 a piece on the BSE in Thursday’s intraday deals. The stock of the company was in high demand despite its default on a semi-annual interest payment of 6.85 per cent for the MTNL Bond Series VI. The interest payment had to be paid 10 days before its due date of December 21, 2024.