HMT soars on revival hopes

BSE 23 May 12 | 12:00 AM

34.85		-0.4 (-1.13%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 500191

Face Value: N.A.

NSE 23 May 12 | 12:00 AM

34.75		-0.6 (-1.7%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: HMT

Performance
1 Week	:	Rs	35.45	(-1.69%)
1 Month	:	Rs	40.75	(-14.48%)
1 Year	:	Rs	56.90	(-38.75%)

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

Be the first to comment

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.