Scripscan:HMT Ltd
cmp:47
Code:500191
Story:HMT was incorporated in 1953 by the Government of India as a machine tool manufacturing company. Over the years, the firm diversified into watches, tractors, printing machinery, metal forming presses, die casting & plastic processing machinery, CNC systems & bearings. Today, HMT comprises five subsidiaries under the ambit of a holding company, which also manages the tractors business directly. The Government of India holds 98.88% stake as at end December 2011 in HMT. HMT surged 10% at Rs 47 at today on BSE after the Board for Reconstruction of Public Sector Enterprises reportedly recommended a Rs 950 crore revival package for the ailing state-run firm.The mid-cap machine tool manufacturing company has an equity capital of Rs 760.35 crore. Face value per share is Rs 10.As per reports, the package aims at financial restructuring of HMT as well as the upgrading of technology, plant and machinery as part of modernisation.HMT reported net loss of Rs 30.98 crore in Q3 December 2011 as against net loss of Rs 21.34 crore in Q3 December 2010. Net sales declined 61.5% to Rs 18.06 crore in Q3 December 2011 over Q3 December 2010.Fundamentally the stock price in no way deserves even a value of 20 bucks but this revival package and often the disinvestment buzz makes the counter move northwards.A counter meant only for traders,investors be better off in other better growth oriented profitable counters.
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