MTNL seeks asset monetisation route for debt reduction
Shital Jibhe / 05 Apr 2017
Mahanagar Telephone Nigam Ltd (MTNL) surged as much as 6.7% at Rs 26.10, hitting a high of Rs 27.15 in intra-day trade. The company yesterday clarified on the news about its discussion with BSNL on merger plan.
Mahanagar Telephone Nigam Ltd (MTNL) surged as much as 6.7% at Rs 26.10, hitting a high of Rs 27.15 in intra-day trade. The company yesterday clarified on the news about its discussion with BSNL on merger plan. The company refused any such discussion being tabled with BSNL and will inform in case any such plan comes up from DoT.
Currently, MTNL remains in the limelight as the company is said to have approached the government and has proposed to monetise assets for debt reduction. The company is planning to monetise surplus land for payment of debt. The MTNL surplus realty is worth Rs 5000 crore which can be used for monetisation.
The company’s current consolidated borrowings stand very high at Rs 17933 crore whereas its net worth is a negative Rs 4.56 crore. The company holds no interest coverage too. Hence, debt reduction would provide some relief to the company.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.