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    Alice Blue
    3rd Floor, M.R.B.Arcade, No. 153/2,
    Bagalur Main Rd, Dwarka Nagar,
    Yelahanka, Bengaluru, Karnataka
    560063
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    Corporate Office: No. 153/2, 3rd Floor, M.R.B.Arcade, Bagalur Main Road, Dwaraka Nagar, Yelahanka, Bengaluru – 560 063, Karnataka.
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    DND PolicyInvestor CharterLegal DocumentationPrivacy policyFeedbackAnnual ReturnsAdvisory for InvestorsE-votingMandatory Member Details

    Performance

    Historical price movement and trading activity

    Trading Data

    Today's High

    23.24

    Today's Low

    22.2

    Open

    22.55

    Previous Close

    22.6

    Volume

    1665531

    Total Traded Value High

    37943535.01

    Mahanagar Telephone Nigam Ltd

    Mahanagar Telephone Nigam Ltd

    NSE: MTNL | BSE: 500108
    ₹24+1.40 (6.19%)
    BuySell

    Technicals

    Price-based indicators and levels

    Indicators

    IndicatorValueSignal
    Relative Strength Index (RSI)+44.15Neutral
    MACD-0.50Bearish

    Support and Resistance Levels

    R3
    24.20
    R223.72
    R123.16
    S122.12
    S221.64
    S321.08

    Moving Averages

    PeriodSMAEMA
    20D Moving Average23.1723.15
    50D Moving Average24.3724.30
    200D Moving Average28.1128.98

    News

    Mahanagar Telephone Nigam Ltd faces rating actions and defaults on substantial debt obligations

    8 Oct 2026

    Mahanagar Telephone Nigam Ltd announced several rating actions and reaffirmations across various instruments by Brickwork Ratings India Pvt Limited and BWR. Brickwork Ratings initiated a review of bonds amounting to 6500.00, while BWR reaffirmed ratings including BWR AA+ (CE) with a removed Rating Watch with Negative Implications and an upgraded Outlook for bonds of the same amount, alongside a reaffirmation of BWR AAA (CE)/Stable for another 6500.00 of bonds, and a BWR D rating for unsupported bonds totaling 6500.00, alongside reaffirmations for Regulator Bonds of 4361.40 and SEBI Bonds of 2138.60, with assignments of AAA (CE)/Stable ratings for bonds with ISINs INE153A08089 and INE153A08097, and a downgrade for bonds (ISIN: INE153A08089) due to an inability to fund the designated Trust & Retention Account, alongside defaults on bank loans and a total debt of 35425.26.

    Mahanagar Telephone Nigam Ltd. receives ratings actions and reaffirmations from Brickwork and BWR

    8 Oct 2026

    Mahanagar Telephone Nigam Ltd announced ratings actions across several instruments from Brickwork Ratings India Pvt Limited and BWR. Brickwork Ratings has placed bonds amounting to 6500.00 in review. BWR reaffirmed its BWR AA+ (CE) rating for bonds totaling 6500.00, removing it from Rating Watch with Negative Implications and assigning an Outlook, alongside reaffirming its BWR AAA (CE)/Stable rating for bonds also amounting to 6500.00, and reaffirmed its Unsupported rating of BWR D for bonds totaling 6500.00; BWR also reaffirmed its BWR AAA (CE)/ Stable rating for Regulator Bonds of 4361.40, noting they are listed on BSE Ltd with semi-annual coupon payments, and reaffirmed its rating of AAA (CE)/ Stable for SEBI Bonds of 2138.60, also listed on BSE Ltd with semi-annual coupon payments, and assigned ratings of AAA (CE)/ Stable to two new Regulator Bonds: INE153A08089, 7.05%, 11 Oct 2030, and INE153A08097, 6.85%, 20 Dec 2030, both totaling 2138.60 and listed on BSE Ltd.

    Crisil downgraded Mahanagar Telephone Nigam Ltd. debt over payment delays and a Bank of India loan

    27 Aug 2026

    Mahanagar Telephone Nigam Ltd. announced that CRISIL RATINGS LIMITED has continued the 'Rating Watch with Negative Implications' on its Non Convertible Debentures amounting to Rs. 20 crore and its Bond totaling Rs. 6,500 crore, both carrying a Crisil AAA (CE) rating, citing non-adherence to the structured payment mechanism for government-guaranteed bonds; additionally, Crisil has placed Bonds and Non-Convertible Debentures (NCDs) on watch negative, and reaffirmed a Crisil D rating for debt amounting to Rs. 2,839 crore due to ongoing debt servicing delays since June 2024, while Tier II Bonds (Under Basel III) totaling Rs. 6,800 crore and Rs. 2,852 crore, along with a Crisil A1+ rating, have also been impacted by a loan account with Bank of India slipping into a non-performing asset (NPA) category, with the government guarantee covering principal and interest on bonds and NCDs remaining in place.

    MTNL fulfills regulatory requirements with India Ratings' bond rating press release

    19 Aug 2026

    Mahanagar Telephone Nigam Ltd (MTNL) has announced that India Ratings and Research Pvt Ltd issued a press release dated August 18, 2026, concerning the rating of bonds issued by MTNL; the press release fulfills compliance requirements under Regulation 30 & 51 of SEBI (LODR) Regulations, 2015, and no enhancements, assignments, or withdrawals of ratings were indicated within the released document pertaining to the bonds issued by MTNL.

    MTNL rises as net loss narrows to Rs 307 crore in Q4 FY26

    22 May 2026

    Mahanagar Telephone Nigam (MTNL) added 1.21% to Rs 29.22 after the company's consolidated net loss reduced to Rs 306.95 crore in Q4 FY26 from a net loss of Rs 827.88 crore posted in Q4 FY25.

    Revenue from operations jumped 34.52% year on year (YoY) to Rs 370.51 crore in the quarter ended 31 March 2026. The firm reported a pre-tax loss of Rs 306.82 crore in Q4 FY26, compared to a pre-tax loss of Rs 828.50 crore in Q4 FY25. Total expenses rose 2.51% YoY to Rs 1,188.01 crore in the March 2026 quarter. License fees and spectrum charges stood at Rs 15.92 crore (down 7.11% YoY), while employee benefit expense was at Rs 155.07 crore (up 4.04% YoY), and finance cost stood at Rs 738.12 crore (up 3.12% YoY) during the period under review. On the margins front, the company reported a negative operating margin of 21.58% in Q4 FY26 as compared with a negative 60.62% recorded in Q4 FY25. The PSU firm also reported a negative net profit margin of 82.84% in Q4 FY26 as against a negative 300.59% registered in a similar quarter of the previous fiscal. Mahanagar Telephone Nigam announced the appointment of Shri Vasudev Singh (GM Finance, MTNL CO) as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) with effect from 21 May 2026, following approval by the Board on the recommendation of the Nomination & Remuneration Committee and Audit Committee. He replaces Shri Anirudh Prasad Singh. Mahanagar Telephone Nigam is engaged in providing telecom services. Powered by Capital Market - Live News

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    Overview

    Telecom-Service - Telecommunications - Service ProviderNSE / BSE

    Mahanagar Telephone Nigam Limited (MTNL), a Public Sector Enterprise, was established in April, 1986 by the Government of India to upgrade the quality of telecom services, expand the telecom network, introduce new services and raise revenue for telecom development needs of India's key metros, Delhi (the political capital) and Mumbai (the business capital of India). MTNL is a wholly owned subsidiary of Bharat Sanchar Nigam Limited. At present, Company is engaged in providing telecom services in geographical area of Mumbai and Delhi. In Mumbai, MTNL started its journey in 1882, in pre-independence era, as Bombay Telephone. The Company has also been in the forefront of technology induction by converting 100% of its telephone exchange network into the state-of-the-art digital mode. The Company is presently engaged in providing telecom services in the geographical area of Mumbai and Delhi. It is providing various types of telecommunication services including Telephone, telex, wireless, data communication, telematic and other like forms of communication (Internet). First digital exchange world technology brought to India by the company during the year 1986. In 1992, the company introduced Voice Mail Service. MTNL had introduced the Integrated Services Digital Network (ISDN) services in the period of 1996. In the year 1997, the Wireless in Local loop was introduced. In addition to phone plus facilities like dynamic locking, call waiting/call transfer, hot lines etc were extended to the customers. Apart from this IVRS (Interactive Voice Response System) like local assistance changed number information, and fault booking system ensuring round the clock service, a CD-ROM version of the telephone directory and an on-line directory enquiry through PC was introduced during the year 1997. To facilitate the clientele, MTNL launched the country's first toll-free service in Delhi in the period of 1998. During the year 1999, MTNL brought in the most widely using service called Internet (Network of Networks), the extreme level of information exchange. Millennium Telecom Limited, a wholly owned subsidiary of MTNL was formed in 17th February of the year 2000 to do practically any type of Telecom Business with a focus on value added services, which was started its operation in Himachal Pradesh in association with HPSEDC from 25th Feb 2002 itself. During the year 2001, the company launched GSM Cellular Mobile service under the brand name Dolphin and in the same year MTNL also launched Wireless in Local Loop (WLL) Mobile services under the brand name Garuda. MTNL has formed a Joint Venture company in Nepal by the name of United Telecom Ltd. (UTL) in collaboration with Telecom Consultants India Limited (TCIL), Videsh Sanchar Nigam Limited (VSNL) and NVPL (Nepal Ventures Pvt. Ltd., a Nepalese Company). The Company is operational since 10th October 2001 for providing WLL based basic services in Nepal. CLI based Internet express service was added with the service line of the company in the period of 2001. The Company made tied up with Billjunction.com in the year of 2001 to provide online bill presenting and payment facility to its customers. The Company launched pre-paid GSM Mobile services under the brand name Trump during the year 2002, and in the same year MTNL's Email on PSTN lines were introduced under the brand name mtnlmail. MTNL had set up a new software venture called ComSoft for developing communications software in the year 2002, as a part of its strategy to offer value-added communications software in e-commerce, e-governance and intelligent networking. The Company brought in to market, the CDMA 1x 2000 Technology under the brand name Garuda 1-x in the year of 2003. During the same period MTNL introduced pilot project of ADSL based Broadband services and also launched the Virtual Phone services. Mahanagar Telephone Mauritius Ltd. bagged second operator license in Mauritius. The company has joined the hands with Nokia, Samsung for WLL handsets in the year 2003. MTNL has set up its 100% subsidiary as Mahanagar Telephone Mauritius Limited. (MTML) in Mauritius, for providing basic, mobile and international long distance services as 2nd operator in Mauritius. Necessary licenses have been obtained in January 2004. MTML has already started its ILD & CDMA based basic services in Mauritius. In Mauritius against the switching capacity of 50K, 8K telephone connections are working. The Company established Wi-Fi & digital certification services in the identical year. MTNL bagged the award for excellence in cost reduction in the year 2004. State of the art training centre of the company 'CETTM' was commissioned in the year of 2004. The Company introduced the broadband services under the brand name of 'TRI BAND' during the year 2005. The Company made partnership with Red Hat through its CETTM centre in the same year of 2005. MTNL-STPI IT Services Ltd is a 50:50 Joint Venture between Software Technology Parks of India (STPI) and the company. The JV formed in 2006 combines the STPI's rich experience as an ISP and MTNL's track record of being India's leading telecom operating company to offer niche portal services to the Indian community. The Company has restructured Millennium Telecom Ltd (MTL) as a Joint Venture company of MTNL and BSNL with 51% and 49% equity participation respectively. MTNL (Mumbai) has joined hands with Contakt Tech Solutions India in the year 2008 for Express alert, a new value added service for the subscribers. Public sector telecom service provider MTNL on June 18th of the year 2008 received the much-awaited International Long Distance (ILD) Licence from the Department of Telecom (DOT), a development that could signal further lowering of ISD rates as the PSU is gearing up to carrying its own traffic in the near future. To remain market leader in providing world class Telecom and IT related services at affordable prices, the company partaking its all efforts in the same business area and MTNL wants to become a global player, also find a place in the Fortune 500' companies. In 2008, MTNL commissioned a state of art IP/MPLS core network in Delhi and Mumbai to provide a converged IP network for all services. To take advantage of IP network and to improve the services the Company worked on the expansion of this network in 2011-12 and deployed around 10 Core + 70 edge & aggregate routers in Delhi and 10 Core + 67 edge & aggregate routers in Mumbai leading to creation of around 50 POPs ( Point of presence) each in Delhi and Mumbai. The commercial operation of the Data Center commenced in 2009. In FY 2018-19, MTNL undertook the task of improving the Wireless Network in Delhi and Mumbai so as to improve the coverage & downlink speed of 21.1 Mbps & uplink speed of 5.76 Mbps which is presently of 3.6 Mbps & 384 Kbps respectively. Projects like expansion of GSM / 3G RF network by adding 1080 nos. of 3G sites & 800 nos. of Ceragon hybrid microwave to meet the backhaul capacity and Data handling capacity to 10 Gbps. 1708 Macro and 55 Micro Node Bs have been put on air in the 3G Expansion Project. In addition, 720 existing Node-B of existing 3G-network were planned for upgradation/ replacement and 914 existing 8 Mbps Microwave Hops were planned for upgradation to NEC make hybrid M/W of 400 Mbps capacity. Redeployment of Old Node B in Delhi to improve coverage in Faridabad & Ghaziabad, a total of 143 old Node-Bs have been redeployed from Delhi. 720 Node-Bs of existing 3G-network were planned for upgradation and 497 nos. of existing 8Mbps Microwave Hops were planned to be upgraded to Ceragon make Hybrid M/w of 400 Mbps capacity. 3G upgrade implementation of HSPA+ to enhance data speed from 3.6 Mbps to 21 Mbps and 384Kbps to 5.76Mbps on downlink and uplink was completed. In 2019-20, MTNL undertook the task of improving the Wireless Network in Delhi and Mumbai so as to improve the coverage &downlink speed to 21.1 Mbps & uplink speed to 5.76 Mbps which was earlier 3.6 Mbps & 384 Kbps respectively with following major projects: Expansion of GSM / 3G RF network by adding 1080 nos. of 3G sites & 800 nos. of hybrid microwave to meet the backhaul capacity and Data handling capacity to 10 Gbps. In addition, upgradation/replacement of 720 old Node-B and upgradation of 914 old 8Mbps-Microwave Hops to hybrid M/W of 400 Mbps capacity. Upgradation of 720 old Node-Bs and upgradation/ replacement of 497 old 8Mbps-Microwave Hops to hybrid M/W of 400 Mbps capacity. 3G upgrade implementation of HSPA+ enhanced data speed from 3.6 Mbps to 21 Mbps and 384Kbps to 5.76Mbps on downlink and uplink. MTNL had worked out, finalized and made operational the policy to engage partners on revenue share basis to extend its FTTx services. Various partners were roped in to offer the high speed broadband services on fiber. In the year 2019-20 more than 80% subscribers were added by these revenue share partners. During 2021-22, the Operation and Maintenance of MTNL Delhi Mobile service has been handed over to BSNL w.e.f. 01.04.2021 as per instructions from DoT. MTNL Mumbai Mobile service has been handed over to BSNL w.e.f. 01.09.2021. MTNL EIR integrated with BSNL EIR installed at Pune. MTNL MNPGW Migration PO to BSNL MNPGW was placed by WS Delhi unit on 12th Nov 2021. Migration to BSNL North Zone MNPGW Chandigarh completed on 6th March 2022. MTNL conducted the testing of voice and data with BSNL NGN (0.5K LMG) in Delhi network. About 11K voice ports LMG equipment for Mumbai and 8K for Delhi have been diverted to MTNL from BSNL. The installation of LMG was completed in Mumbai during 2022. Outgoing ILD traffic of MTNL Delhi and MTNL Mumbai is being routed through BSNL Taxes. In 2023-24, MTNL launched 4G Services in Delhi and Mumbai. The Installation of Firewall has been done. MTNL had worked out, finalized and made operational the policy to engage partners on revenue share basis to extend its FTTx services. The migration of MTNL FTTH voice subscribers on BSNL s Network has been completed. MTNL landline subscribers have been migrated on BSNL IMS core through diversion of spare LMGs from BSNL. Old Broadband Remote Access Servers (BRASs), which are not covered under AMC have been procured by BSNL with new BNGs to meet MTNL's requirement. Procurement of Batteries and delivery of Power plants have been started, which are presently under installation. Internet Traffic of MTNL is being routed through BSNL w.e.f. 27.06.2023 and now MTNL is not taking International Internet Bandwidth from other service providers. The Service Agreement between MTNL and BSNL has become effective from 01.01.2025, under which BSNL has been entrusted with the responsibility to undertake the maintenance and operational activities of MTNL's Telecom Services. MTNL has upgraded entire MPLS network along with the security solution to handle growing traffic needs of FTTH and 4G networks. After installation and AT (acceptance testing) of the equipment, the network has been commissioned on 01.03.2025. The Installation and the AT of firewalls has been completed and commissioned on 01.03.2025. Migration of MTNL FTTH VoIP subscribers on BSNL Network has been completed in Delhi and Mumbai in FY 2025. Accordingly, MLLN network of MTNL Delhi and Mumbai has been integrated with the upgraded NMS of BSNL in FY 2025. MTNL landline subscribers migrated on BSNL IMS core through diversion of spare LMGs from BSNL. Integration with BSNL core done and migration completed both in Delhi and Mumbai.

    Fundamentals

    Financial strength and ownership structure

    Valuation & Ratios

    Market Capitalisation

    ₹1,352.61

    Price to Book (PB)

    -0.05

    Price to Earnings (PE)

    0.00

    Return on Equity (ROE)

    0.00%

    Earnings Per Share (EPS)

    -49.32

    Dividend Yield

    0.00%

    Financial Performance

    197.83
    192.24
    209.02
    183.85
    266.64
    261.24
    275.42
    172.22
    189.76
    210.60
    370.51
    216.89
    Sep
    '23
    Dec
    '23
    Mar
    '24
    Jun
    '24
    Sep
    '24
    Dec
    '24
    Mar
    '25
    Jun
    '25
    Sep
    '25
    Dec
    '25
    Mar
    '26
    Jun
    '26

    Shareholding Pattern

    56.25%
    56.25%
    56.25%
    56.25%
    Dec
    '25
    Mar
    '26
    Jun
    '26
    Sep
    '26