Hindustan Motors surges on restructuring plans

Hindustan Motors has surged 20% to Rs 12 after car and utility vehicle maker said that it is considering the restructuring of the company.

“The board of directors of the company will meet on January 10, 2013 to consider restructuring of the company,” Hindustan Motors said in a statement.

The stock opened at Rs 10.65 on the BSE and has seen huge trading volumes on the counter. As many as 2.71 million shares have already changed hands on the counter against an average around 110,000 shares that were traded daily in past two weeks.