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Mahanagar Telephone Nigam Limited ( (IN:MTNL) ) has issued an update.
MTNL has been fined by both the NSE and BSE for non-compliance with Regulation 17(1) of SEBI (LODR) Regulations, 2015, which pertains to the composition of the Board. The fines amount to Rs. 5,42,800, including GST. MTNL has indicated that the appointments of Independent Directors, including a woman director, are managed by the Department of Telecommunications, and the company is seeking a waiver of these fines. The financial impact of the fines on MTNL’s operations is not considered material.
More about Mahanagar Telephone Nigam Limited
Mahanagar Telephone Nigam Limited (MTNL) is a public sector undertaking in the telecommunications industry, primarily providing telecommunication services. It operates under the administrative control of the Department of Telecommunications, Ministry of Communications, Government of India.
Average Trading Volume: 152,664
Technical Sentiment Signal: Hold
Current Market Cap: 24.34B INR
Learn more about MTNL stock on TipRanks’ Stock Analysis page.