HMT surges 11% on revival hopes

HMT has surged 11% to Rs 46.50 on reports that the board for Reconstruction of Public Sector Enterprises (BRPSE) has recommended a revival package worth of Rs 950 crore for the state-owned company.

“The package is aimed at financial restructuring, upgrading technology, upgrading of plant and machinery and modernisation. The sick public sector unit (PSU) would also garner about Rs 400 crore from sale of its surplus land,” the report suggests.

A combined 430,000 shares have changed hands on the counter so far on both the exchanges.