HMT Stock Plunges to Lower Circuit in Minutes; Trading Halted Amid Panic Selling

• HMT stock, a 7000 crore company, hit its lower circuit at Rs 62.47 on March 10th, minutes after market open due to intense selling.
• The stock opened with a decline from its previous close of Rs 65.75, triggering panic selling and halting trading for the day.
• Despite the crash, HMT has delivered strong long-term returns, rising from Rs 8 in 2020 to over Rs 60, with 140% returns in three years.
• HMT Limited, established in 1953 under the Ministry of Heavy Industries, is a public sector undertaking headquartered in Bengaluru.
• The company manufactures machine tools, tractors, and was historically famous for its watches, holding 40% of the market between 1960-1980.