Hindustan motors news

Shares of Hindustan Motors jumped around 10 per cent on Wednesday after the automaker's announcement to extend its electric vehicle (EV) domain. The stock jumped as much as 9.85 per cent to hit a day high of Rs 18.40 from its previous closing of Rs 16.75 on the BSE. The shares were locked-in the upper circuit at the time of writing this story. Around 5.79 lakh shares changed hand today, amounting to a turnover of Rs 1.05 crore. The company's market capitalisation stood at Rs 383.93. In an exchange filing, Hindustan Motors said it "has entered into a Memorandum of Understanding (MOU) to extend the EV domain across the border to enhance the production of eco-friendly electric vehicle." Prior to this, Hindustan Motors and its European partner had completed due diligence for the proposed electric two-wheeler project. "Hindustan Motors entering EV segment and foraying into the 2-wheeler segment has led to a sharp increase in the stock price," said A R Ramachandran from Tips2trades said. "Investors can only buy this stock on a close above Rs 18.35 for a potential target of Rs 26. Strong support will now be at 15.6-16," he added. Also Read | Hindustan Motors, once known for its Ambassador cars, equipped itself with state-of-the-art facilities for the production of passenger cars, trucks and multi-utility vehicles. As of September 30, the promoters holding in the company stood at 32.34 per cent, while institutions and non-institutions held 3.14 per cent and 64.52 per cent, respect...

Ambassador is all set to make a comeback in the coming two years in a new avatar. Uttam Bose, Director of Hindustan Motors on Wednesday has confirmed that work is underway to bring out the ‘new look’ Amby. Further, he added, “Mechanical and design work for the new engine has reached an advanced stage.” Earlier, the Chennai plant was used to produce Thereafter, Peugeot, the French car manufacturer acquired the rights of the Ambassador brand in 2017 for Rs 80 crore. Now the carmaker is planning to relaunch the Ambassador car in a new avatar and will manufacture it at the HM’s Chennai manufacturing facility. From 1960s to mid-90s, Ambassadors used to be a status symbol in India. During that time, Ambassador was the only luxury car in the Indian market. Though, the production of the popular car halted in the year 2014 as its annual sales saw a major decline to just 2,000 units from 20,000 units in the middle of 1980s.

The best days of Hindustan Motors, the company behind the iconic Ambassador --- for long the car in India (it was manufactured from 1958 to 2014) --- may be behind it. But the legendary Indian car maker is set to be plotting a comeback of sorts. And the road to its return will most probably through EVs. According to a news report in Business Standard, which quoted the director of Hindustan Motors, Uttam Bose, the company is working on sewing up a joint venture with an European auto company focused on the electric vehicle (EV) space. A memorandum of understanding (MoU) has already been signed and due diligence is expected to start shortly and will take 2-3 months to conclude. Is Stellantis HM's unnamed JV partner? As it happens, to start off, Hindustan Motors will launch two-wheelers and subsequently follow it up with four-wheelers in the Ev segment. It is just not that alone. The company that Hindustan Motors is in talks with may also pick up close to 49% stake in the putative joint venture. According to the report, "the vehicles would roll out of HM’s Uttarpara plant in West Bengal, which declared 'suspension of work' in 2014. Since then there have been no operations." Maybe. But equally, may not be. For, Hindustan Motors says that the new EVs would roll out from its plant in West Bengal. But Stellantis had hinted that the putative Citroen EV was likely to come out of its plant near Chennai in Tamil Nadu. That plant is also a JV between the Hindustan Motors and Stellantis...

06 Apr,2023, 02:29PM IST Format of Initial Disclosure to be made by an entity identified as a Large Corporate. Sr. No. Particulars Details 1 Name of Company HINDUSTAN MOTORS LTD. 2 CIN NO. L34103WB1942PLC018967 3 Outstanding borrowing of company as on 31st March / 31st December, as applicable (in Rs cr) 0.00 4 Highest Credit Rating during the previous FY NA 4a Name of the Credit Rating Agency issuing the Credit Rating mentioned in (4) Not Applicable 5 Name of Stock Exchange# in which the fine shall be paid, in case of shortfall in the required borrowing under the framework BSE Date: 06/04/2023 Note: In terms para of 3.2(ii) of the circular, beginning F.Y 2022, in the event of shortfall in the mandatory borrowing through debt securities, a fine of 0.2% of the shortfall shall be levied by Stock Exchanges at the end of the two-year block period. Therefore, an entity identified as LC shall provide, in its initial disclosure for a financial year, the name of Stock Exchange to which it would pay the fine in case of shortfall in the mandatory borrowing through debt markets. 24 Nov 2022, 02:06PM IST “Hindustan Motors Limited has entered into a Memorandum of Understanding (MOU) to extend the EV domain across the border to enhance the production of eco-friendly electric vehicles,” the company said in a BSE filing on Tuesday post market hours. The company did not divulge details of the MoU. 06 Jul,2022, 03:47PM IST The Exchange had sought clarification from Hindustan Motors Ltd with ...

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