HMT meaning in Business ?

Answer: 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.

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