HMT Limited, formerly Hindustan Machine Tools Limited, is an Indian state-owned manufacturing company under the control of the Ministry of Heavy Industries and ownership of Government of India. It was founded in 1953 as a machine tool manufacturing company, diversifying into watches, tractors, printing machinery, metal forming presses, die casting and plastic processing machinery, and CNC systems and bearings. HMT is headquartered at Bangalore. The watch making division, HMT Watches, opened in 1961. During the 1970s and 1980s HMT was the largest supplier of wrist watches in India, with popular styles including Janata and Pilot. The division 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. HMT's wholly owned subsidiaries include HMT Machine Tools Limited and HMT International Limited. HMT also holds a majority stake in Praga Tools Limited (51%). History Hindustan Machine Tools was incorporated in 1953 by the Government of India as a machine tool manufacturing company. Over the years, HMT diversified into watches, tractors, printing machinery, metal forming presses, die casting and plastic processing machinery, and CNC systems and bearings. HMT is headquartered at Bengaluru (Bangalore). Technology was absorbed in all product groups through collaborations with world-renowned manufacturers and further strengthened by continuous in-house R&D. Today, HMT consists of six subsidiaries under the ambit of a holding company, which also manages the tractor business directly. HMT Limited took over Praga Tools Limited as one of its subsidiaries 1988. Praga Tools Limited was established in May 1943 as Praga Tools Corporation Limited to manufacture machine tools with its headquarters at Secunderabad. It was renamed as Praga Tools Limited in 1963. It is mainly involved in manufacture of machine tools, including CNC machines. Watch division HMT set up a watch manufacturing Unit at Bangalore in collaboration with M/s Citizen Watch Co., Japan in 1961. The first batch of mechanical (hand wound) wrist watches manufactured here was released by the then Prime Minister of India, Jawaharlal Nehru. The most popular mechanical watch was HMT Janata. Other mechanical watch styles included HMT Pilot, HMT Jhalak (Semi Skeletal),