HMT revival on govt's agenda: Praful Patel

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HMT revival on govt's agenda: Praful Patel

A day after CNBC-TV18 broke the news about HMT Limited's Rs 981 crore revival plan, today, the Minister of Heavy Industries Praful Patel confirmed that a revival plan has indeed been taken up.

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Excerpts from India Business Hour on CNBC-TV18 Watch the full show » ALSO READ See latest News about HMT See previous management interviews See what other Experts & Brokerages are saying about HMT HMT BSE | NSE 31/05/12 Are Mutual Funds betting on HMT?

A day after CNBC-TV18 broke the news about HMT Limited 's Rs 981 crore revival plan, today, the Minister of Heavy Industries Praful Patel confirmed that a revival plan has indeed been taken up. The news sent the stock zooming up 8% plus in trade on a day when the rest of the market saw red.

Patel said, "HMT's revival is certainly being looked at. In fact we want to use the land and offer it to other PSUs so that we are able to maybe enter into joint ventures that will in a way a seed capital for the revival of HMT."

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