Announced Tue, 7 Jul · 11:58 IST
Karnataka Forest Dept orders HMT to hand over 430 acres land
Regulatory & Legal View source PDF
HMT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-5.4%1-day move
₹67.83
prior close
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base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————-5.4-5.0-4.9-5.4-5.3-7.3-10.4———
Up moveDown movePending
AI summary
Karnataka Forest Department has ordered HMT Limited to hand over 430 acres 21.853 guntas of land in Bengaluru, originally granted by the Government of Karnataka to HMT Machine Tools Limited. The company had paid all transaction amounts for this land. The matter is already sub judice before the Supreme Court of India. HMT plans to appeal before the Conservator of Forest, Bengaluru and is taking all legal steps to protect its interests in the matter.
Likely market impact
Negative if HMT loses 430 acres of legally held land. Matter pending in Supreme Court, no immediate impact. Appeals planned.