Bangalore-based HMT Ltd, manufacturer of machine tools and watches on Thursday, informed BSE that the government has approved revival and financial restructuring plan for the company as recommended by the BRPSE, which envisages financial support, waivers

HMT has zoomed 40% in four trading days on the back of Cabinet Committee on Economic Affairs (CCEA) approving a Rs 1,083-crore revival package for the company.

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

HMT has rallied 15% to Rs 32.60 on back of heavy volumes on reports that the government is mulling Rs 1,000 crore revival plans for the company.

Shares of select public sector undertakings (PSU) companies are in focus ahead of their chiefs meeting with Prime Minister Manmohan Singh today to discuss capital expenditure plans, as well as issues hurting growth of their respective industries.

The loss-making HMT Watches Limited has devised a multi-pronged strategy for revival by introducing new models, infusing fresh capital, through sale of its surplus land at Ranibagh in Uttarakhand and other places and also through various tie-ups with

A consultant appointed to study loss-making HMT group of companies has recommended revival of HMT Ltd, HMT Bearings and HMT Watches, the government said today.

Shares of state-owned companies such as HMT and ITI have rallied more than 10% each on reports that the government is likely to infuse funds to revive the loss-making public sector undertakings (PSUs).

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.

Shares of state-owned companies such as HMT, ITI and Scooters India have rallied more than 9% each on reports that the government is likely to revert to the policy of using 25% of the disinvestment proceeds for reviving sick public sector undertakings

HMT Watches and Department of Posts have entered into an agreement for retailing watches through post offices across the country as part of HMT’s strategy to provide more diversified services to the public.

Hindustan Machine Tools (HMT) and ITI has soared more than 9% each on reports that the government has formulated a revival plan for the ailing state-owned companies. The plan includes implementation of pay revision for the employees.

The company's net loss has widened from Rs 17.56 crore in the corresponding quarter previous fiscal, it said in a filing to the Bombay Stock Exchange (BSE).

A Parliament committee on Wednesday slammed the government for sitting over a proposed revival package for Hindustan Motors Ltd (HMT) for over five years.

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.

Tractor maker HMT today ventured into the four-wheel drive market by unveiling three new tractors here at the CII Agro Tech 2010 fair.

HMT ended 11% higher at Rs 101. Around 7.67 million equity shares were traded at the counter on the BSE.

Public sector enterprise HMT Watches is likely to receive a revival package from the government by the beginning of the next financial year for plant upgradation and revamping marketing strategy, a top company official said.

The same was at Rs 28.50 crore in the year ago period.

Shares of HMT hit the 10 per cent upper circuit, to Rs 31.90, on reports that the government has allowed 10 sick PSUs, including HMT, to sell their surplus land and raise resources.