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What is Hindustan Machine Tools mean?
HMT Limited, formerly Hindustan Machine Tools Limited, is a state-owned holding company under the Ministry of Heavy Industries and Public Enterprises in India. The company's wholly owned subsidiaries include HMT Machine Tools Limited and HMT International Limited. HMT also holds a majority stake in Praga Tools Limited (51%).
In its heyday, HMT Watches were the largest supplier of wrist watches in India. The company was closed in 2016, largely due to mismanagement, leading to heavy losses. In the same year, the Government of India also shut down HMT Chinar Watches Ltd., HMT Bearings, and HMT Tractors.
HMT Machine Tools Limited still manufactures industrial machines and tools with a work force of around 2,500 in six manufacturing units situated at Bangalore (Mother unit), Kochi, Hyderabad (2 units), Pinjore and Ajmer. These mostly serve India's defence, government and educational Institutions.
referencePosted on 05 Dec 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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