HMT up 5% after CCEA approves Rs 1,083 cr revival package

State-owned watch and tractor manufacturer HMT rose more than five percent on Monday as the Cabinet Committee on Economic Affairs (CCEA) has approved Rs 1,083 crore revival package for the company.

The package includes cash infusion to the tune of Rs 450 crore and another Rs 630 crore as non-cash assistance.
 
Meanwhile, the market capitalisation of the company currently stands at Rs 2,904.54 crore.

The stock shot up more than 40 percent in four consecutive sessions.

At 10:10 hours IST, the share gained 5.09 percent to Rs 38.20 on Bombay Stock Exchange.
 
Trading volumes increased one percent to 2,75,613 equity shares as compared to its five-day average of 2,73,116 shares.