MTNL shares dip 6% as company again defaults payment of instalment to banks

Mahanagar Telephone Nigam (MTNL) shares slipped 5.6 per cent in trade on Monday, logging an intraday low at ₹41.38 per share on BSE. The stock declined after the company defaulted on the payment of principal (instalment) and interest to Union Bank of India, Bank of India, Punjab National Bank, State Bank of India (SBI), UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank.