The 14th-floor office of Hindustan Motors at Birla Building in Kolkata wears a deserted look. Save a handful of staff and security guards, the place is an empty shell. But for the company it's "early signs of recovery".
Beleaguered automaker Hindustan Motors (HM), owned by the CK Birla Group, on Thursday decided to demerge and transfer its Chennai car plant (CCP) to its fully-owned subsidiary, Hindustan Motor Finance Corporation Limited (HMFCL).
The West Bengal government may move court against Hindustan Motors (HM) to seek compensation of Rs 200 crore on grounds that the sale of land at the company’s Uttarpara plant was a loss to the state exchequer.
Hindustan Motors, better known as the maker of Ambassador cars, today said four promoter group firms have increased their stake in the company to 32.19% by picking up an additional 6.82% through preferential allotment.
Riding on a host of new launches, with a focus on the commercial vehicle segment, ailing auto maker Hindustan Motors (HM) is expecting a revival of fortune in another three years' time, a top company official said on Monday.
Hindustan Motors has soared 9% to Rs 24.30 as the High Court at Calcutta, through its order dated December 15, 2010, confirmed the reduction in the company's share capital by lowering the paid-up value of its equity shares from Rs 10 to Rs 5 each.
Hindustan Motors (HM), one of India's oldest automotive companies, is planning to significantly raise the sales of its Ambassador model over the next 18 months through the launch of several new variants of the iconic car.
Buoyed by a boom in the domestic auto sector, auto major Hindustan Motors, today said that it aims to double the sales of its iconic Ambassador car to 24,000 units per annum through launch of new variants.