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HMT Ltd. ( (IN:HMT) ) has provided an update.
HMT Limited has announced that, following earlier government approval for closure of three of its subsidiaries, it has now filed an application with the Ministry of Corporate Affairs to strike off its wholly owned unit HMT Watches Limited from the Registrar of Companies under the Companies Act, 2013. The move marks a further step in the government-backed restructuring of the state-owned engineering group, signalling continued consolidation of its legacy watch business and potential streamlining of operations, with implications for the group’s focus on core activities and capital allocation going forward.
More about HMT Ltd.
HMT Limited is a Government of India undertaking engaged in engineering and manufacturing, historically known for its watches, bearings and related products, with operations and listings on major Indian stock exchanges.
Average Trading Volume: 2,104
Technical Sentiment Signal: Hold
Current Market Cap: 57.35B INR
See more insights into HMT stock on TipRanks’ Stock Analysis page.