Mahanagar Telephone Nigam (MTNL) shares dropped more than 2% in morning trade after the company was classified as a Non-Performing Asset (NPA) by Punjab and Sind Bank (PSB) effective October 8, 2024.
In the exchange filing, the company shared, “This is to inform you that Punjab and Sind Bank (PSB) vide its letter dtd. 16.10.2024 has informed that Accounts of MTNL has turned into NPA with effect 08.10.2024.
As of 9:31 am, MTNL shares were trading 1.66% lower at Rs 49.19 on the NSE.
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