HMT soars on revival hopes

BSE 22 May 13 | 01:04 PM

33.80		0.25 (0.75%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 500191

Face Value: N.A.

NSE 22 May 13 | 12:59 PM

33.70		0.1 (0.3%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: HMT

Performance
1 Week	:	Rs	34.25	(-1.31%)
1 Month	:	Rs	38.35	(-11.86%)
1 Year	:	Rs	35.25	(-4.11%)

SI Reporter / Mumbai 15 Apr 11 | 02:45 PM

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HMT has soared 9% to Rs 68.15 on reports that the debt-laden company has hired consulting firm PricewaterhouseCoopers Pvt. Ltd (PwC) to help devise a revival strategy.

PwC will study state-controlled HMT’s products, business plans and suggest investment strategies for the next five years, reports suggest.

The Bangalore-based HMT, which has posted losses for the past two decades and has a debt of Rs 1,631 crore as on March 31, 2010.

The stock opened at Rs 62.15 and hit a high of Rs 68.70 on the NSE. The trading volume have jumped more than five-fold with 2.18 million shares changing hands so far, as against an average around 400,000 shares that were traded daily in past two weeks.