HMT rallies on Cabinet nod for Rs 1,083 crore revival plan

The package includes cash infusion to the tune to Rs 450 crore and non-cash assistance of Rs 630 crore.

has rallied about 8% to Rs 39.25 after the government approved over Rs 1,000-crore revival package for and tractor maker that aims to modernise the company and help it turn around in five years.

“The Cabinet Committee on Economic Affairs (CCEA) has approved the Rs 1,083-crore revival package of HMT,” the PTI report suggests.

The package includes cash infusion to the tune to Rs 450 crore and non-cash assistance of Rs 630 crore. The cash component of the package would be used for modernisation, meeting the working capital needs and for wage revision.

The stock has rallied 38% in past three trading sessions compared to 1.8% rise in benchmark Sensex on hopes of revival plan.

Today, the stock opened at Rs 37.90 and hit a high of Rs 39.45 in early morning trades on BSE. A combined around 250,000 shares have changed hands on the counter on BSE and NSE.
 

image
Business Standard
177 22
Business Standard

HMT rallies on Cabinet nod for Rs 1,083 crore revival plan

The package includes cash infusion to the tune to Rs 450 crore and non-cash assistance of Rs 630 crore.

SI Reporter  |  Mumbai 



has rallied about 8% to Rs 39.25 after the government approved over Rs 1,000-crore revival package for and tractor maker that aims to modernise the company and help it turn around in five years.

“The Cabinet Committee on Economic Affairs (CCEA) has approved the Rs 1,083-crore revival package of HMT,” the PTI report suggests.


The package includes cash infusion to the tune to Rs 450 crore and non-cash assistance of Rs 630 crore. The cash component of the package would be used for modernisation, meeting the working capital needs and for wage revision.

The stock has rallied 38% in past three trading sessions compared to 1.8% rise in benchmark Sensex on hopes of revival plan.

Today, the stock opened at Rs 37.90 and hit a high of Rs 39.45 in early morning trades on BSE. A combined around 250,000 shares have changed hands on the counter on BSE and NSE.
 

RECOMMENDED FOR YOU

HMT rallies on Cabinet nod for Rs 1,083 crore revival plan

The package includes cash infusion to the tune to Rs 450 crore and non-cash assistance of Rs 630 crore.

The package includes cash infusion to the tune to Rs 450 crore and non-cash assistance of Rs 630 crore.
has rallied about 8% to Rs 39.25 after the government approved over Rs 1,000-crore revival package for and tractor maker that aims to modernise the company and help it turn around in five years.

“The Cabinet Committee on Economic Affairs (CCEA) has approved the Rs 1,083-crore revival package of HMT,” the PTI report suggests.

The package includes cash infusion to the tune to Rs 450 crore and non-cash assistance of Rs 630 crore. The cash component of the package would be used for modernisation, meeting the working capital needs and for wage revision.

The stock has rallied 38% in past three trading sessions compared to 1.8% rise in benchmark Sensex on hopes of revival plan.

Today, the stock opened at Rs 37.90 and hit a high of Rs 39.45 in early morning trades on BSE. A combined around 250,000 shares have changed hands on the counter on BSE and NSE.
 
image
Business Standard
177 22

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

More News

STOCK WATCH

Company Price() Chg(%)
Biocon 808.70 15.28
Motil.Oswal.Fin. 483.85 15.24
JM Financial 63.85 12.61
Bharat Financial 844.90 10.58
Force Motors 3220.15 7.47
> More on BSE Gainers
Company Price() Chg(%)
Biocon 809.70 15.57
Motil.Oswal.Fin. 484.90 15.37
JM Financial 63.75 12.43
Bharat Financial 843.60 10.46
Cairn India 191.90 8.51
> More on NSE Gainers
Company Price() Chg(%)
G N F C 158.35 -7.53
Raymond 457.65 -6.60
Canara Bank 240.90 -4.21
Atul 2092.45 -3.70
Hatsun AgroProd. 332.95 -3.38
> More on BSE Gainers
Company Price() Chg(%)
Raymond 458.45 -6.28
Canara Bank 241.30 -3.79
Atul 2093.10 -3.57
Union Bank (I) 126.45 -3.44
Minda Corp 118.65 -3.02
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard