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HMT spurts on receiving government approval for restructuring package proposal

19 Feb 2014 Evaluate

HMT is currently trading at Rs. 28.85, up by 1.55 points or 5.68 % from its previous closing of Rs. 27.30 on the BSE.

The scrip opened at Rs. 28.35 and has touched a high and low of Rs. 29.50 and Rs. 28.00 respectively. So far 238439 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 40.80 on 21-Feb-2013 and a 52 week low of Rs. 20.70 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 30.15 and Rs. 24.80 respectively. The current market cap of the company is Rs. 2197.41 crore.

The promoters holding in the company stood at 90.00 % while Institutions and Non-Institutions held 0.04 % and 9.96 % respectively.

HMT’s revival & restructuring plan has been approved by the Government of India (GoI) which envisages financial support of Rs 1083.48 crore,  including cash infusion of Rs 425 crore against which the Company has to issue of 8% Redeemable Preferential Share Capital for the same amount. As per the phase I of the plan, the Government of India has released the sanctioned funds to the tune to Rs 217 crore.

The company’s board of directors at their meeting held on January 25 had approved the allotment of fully paid-up 8 percent redeemable preference shares of Rs 100 each for a face value of Rs 217 crore in favour of President of India.

HMT manufactures engineering goods like machine tools, watches, tractors, printing machines, die casting and plastic processing machinery, metal forming presses and bearings. It manufactures Mechanical and Quartz Analog watches. The manufacture of wristwatches started as part of diversification strategy of HMT in the year 1962, under Technical collaboration with CITIZEN Watch Company of Japan with a manufacturing unit at Bangalore.

HMT Share Price

65.12 1.54 (2.42%)
17-Apr-2026 16:59 View Price Chart
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