Apr 18, 2013, 10.20 AM IST | Source: Moneycontrol.com

CCEA to consider HMT revival plan, stock spikes 7%

State-controlled HMT rose more than 7 percent on Thursday, continuing upmove for the third consecutive session ahead of cabinet meet.

State-controlled HMT rose more than 7 percent on Thursday, continuing upmove for the third consecutive session ahead of Cabinet meet.

The cabinet committee on economic affairs (CCEA) will meet today to consider revival plan for the company.

According to sources, the proposal is to infuse Rs 1,083 crore into HMT.

Sources told CNBC-TV18 that HMT's revival plan includes cash infusion of Rs 448 crore while Rs 425 crore infusion into HMT is for modernisation and working capital of the company. Govt loan to HMT will be converted into equity, sources add.

The share rallied more than 31 percent in three sessions. At 09:58 hours IST, the stock gained 7.4 percent to Rs 36.35 amid heavy volumes on Bombay Stock Exchange.
 
Trading volumes increased nearly 200 percent to 3,71,557 shares as against five-day average of 1,30,559 shares.

HMT stock price

On April 17, 2014, HMT closed at Rs 29.80, up Rs 0.30, or 1.02 percent. The 52-week high of the share was Rs 39.45 and the 52-week low was Rs 20.70.


The company's trailing 12-month (TTM) EPS was at Rs 0.00 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 0. The latest book value of the company is Rs -0.69 per share. At current value, the price-to-book value of the company is -43.19.

Set email alert for

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Rahul Gandhi

572.07 -1.58 -0.28%

4684

Bought today

36950

Sold today

0.03%

User holding

video of the day

Chandra says satisfied with TCS' FY14, FY15 to be better

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.