HMT gains on Cabinet budgetary support approval - The New Indian Express

HMT gains on Cabinet budgetary support approval

Published: 20th February 2014 04:19 PM

Last Updated: 20th February 2014 04:19 PM

HMT gained on Thursday after the Cabinet Committee on Economic Affairs (CCEA) has approved budgetary support, in the form of non-plan loan of Rs 270.6 million for payment of salary, wages and statutory dues to the employees of HMT for the period from March toSeptember, 2013.

The CCEA has also approved Rs 503.4 million to HMT Machine Tools for payment of statutory dues (provident fund, gratuity etc.) for the period from September, 2012 to March, 2013.

This decision would mitigate hardships being faced by employees and would also motivate employees and help to achieve the goal of revival/restructuring of the companies, The Cabinet said.

Shares of the company gained Rs 1.35, or 4.55%, to trade at Rs 31. The total volume of shares traded was 813,740 at the BSE (2.54 p.m., Thursday).

The scrip has touched an intra-day high of Rs 32.30 and low of Rs 29.85. The total volume of shares traded at the BSE is 813,740.In the earlier session, the shares gained 8.61%, or Rs 2.35, at Rs 29.65.Currently, the stock is trading down 24.02% from its 52-week high of Rs 40.80 and above 49.76% over the 52-week low of Rs 20.70.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 28.80 (1.30) (4.51) 1 Month 31.15 (3.65) (11.72) 3 Months 27.60 (0.10) (0.36) 6 Months 40.95 (13.45) (32.84) 1 Year 37.65 (10.15) (26.96) Note: Based on previous day closing price.

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