MTNL shares dip 3% as company struggles to fund escrow account

Mahanagar Telephone Nigam (MTNL) shares dropped 2.8 per cent in Monday’s trade on BSE, logging an intraday low at Rs 43.85 per share. The stock slipped after the company informed that it was unable to fund the escrow account due to insufficient funds.

An escrow account is a secure account that holds funds or assets until certain conditions are met. The funds are then released to the beneficiary or recipient.