HMT shares zoom 18% on pact with German firm

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Shares of engineering firm HMT on Wednesday surged nearly 18 percent after the company signed a pact with a German firm Fraunhofer for technology upgradation. The stock of the state-run firm zoomed 17.60 percent to Rs 58.80 at BSE. On NSE, it climbed 17.71 percent to Rs 58.80.

Fraunhofer is Europe's largest application-oriented research organisation. "HMT has signed an MoU with Fraunhofer, pertaining to technology upgradation for developing latest technology machines by our subsidiary HMT Machine Tools Ltd. "The MoU was signed in the presence of Prime Minister Narendra Modi and German Chancellor Angela Merkel," HMT had said in a BSE filing yesterday.