HMT is a big gainer today, up almost 8% at Rs.30.85, with an intra day high at Rs.31.45. Volumes are huge at 1.65 lakh shares in the morning, compared to 19,000 shares traded over past two weeks.

The stock is up after the company stated that it is scheduled to hold an EGM on 21^st June to increase the authorised share capital of the company from Rs 1,450 crore to Rs 2,100 crore by amending Clause V of the Memorandum of Association and Article 4 of the Article of Association of the company.

This is in line with the Govt’s revival and restructuring plans for the company, which is based on the recommendations of the Board for Reconstruction of Public Sector Enterprises (BRPSE).