According to the company's filing to bourse, in consideration of the demerger HMFCL will issue and allot to the shareholders of HML, one equity share of Rs 5 each in HMFCL credited as fully paid up for every 13 equity shares of Rs 5 each fully paid-up held by them in the capital of HML.
Hindustan Motors said the company would consider restructuring its business.
Hindustan Motors Limited, a C K Birla group company, on Sunday launched the LPG version of its Ambassador for the taxi and private car segments in the country.
Declining sales and an inability to meet its capacity have hobbled the car maker.
The VRS notice was pasted on the gates of the company's Uttarpara unit by the management, which said all workers would be paid their statutory dues plus and additional amount of Rs 100,000 each.
Hindustan Motors on Monday launched a new variant of its old workhorse Ambassador, which, it hopes, would increase sales of the car by nearly 29 per cent to about 18,000 units this fiscal.
The company was also looking for a strategic investor for the revival of the Uttarpara plant.
The bank got the share in lieu of repayment of loan.
Hindustan Motors Ltd decided to sell its holding of 18,00,000 shares in Hindustan Powerplus Ltd, a joint venture with Caterpillar Commercial SA, Belgium, to Caterpillar at Rs 32 a share.
C K Birla group company Hindustan Motors has reported 50 per cent erosion in peak net worth and accumulated losses of the company stood at Rs 132 crore (Rs 1.32 billion).
Automobile firm Hindustan Motors today launched sports utility vehicle 'Outlander' in the country, priced at Rs 20.2 lakh) Rs 2.02 million), ex-showroom.
Hindustan Motors said on Thursday it has appointed HDFC as consultant to sell a part of its land in West Bengal to private retailers for which it has sought the state government's permission.
Hindustan Motors currently has two facilities one at Uttarpara in West Bengal and Tiruvallur plant in Tamil Nadu.
An executive of HM, which supplies auto components to leading car manufacturers in the country, said there was a general slowdown in the auto components business as major automobile manufacturers had resorted to production reduction. When asked which areas HM was likely to enter for its non-auto business, the executive said that infrastructure, power transmission and the railways were prospective sectors.
Boosted by its demand, sales jumped 166% in February. The firm is now planning a massive facelift for its cars to keep the momentum going.
The cost of the vehicle comes down by Rs 180,000 with this step.
Government sources say they believe the company gave a false picture of what it proposed to do with the money from the sale.
With the resignation of Uttam Bose as managing director and chief executive officer of HM last week, Moloy Chowdhury has been appointed as acting MD and CEO of the company, which owns assets at Uttarpara and Indore.
Since work was suspended at the plant, worker unions have been on a sit-in protest.
Hindustan Unilever (HUL) has topped the Perpetual Capital Hurun India Impact 50 - 2026 list with 53.9 points (on the scale of 0-100), reflecting a strong performance across key sustainable development goals (SDGs), including climate, water, circularity, gender and biodiversity.
The country's first ever carmaker, Hindustan Motors, is looking at a second coming. Talks are on for a joint venture with a European auto company focused on the electric vehicle (EV) space. A memorandum of understanding (MoU) has been signed and due diligence is expected to start shortly and will take 2-3 months to conclude.
The decision reflected Birla's thinking that his stepping down would pave the way for the entry of strategic investors and allow for greater flexibility during discussions, the company said.
The fiscal tilt towards capex benefits companies in investment-related sectors like capital goods, defence equipment, engineering & construction and metal & mining. The planned cut in revenue expenditure will weigh on companies in consumption sectors like FMCG, consumer durables and retail.
"We are expecting to launch the high-premium SUV 'Outlander' by this year itself in the Indian market and it would be placed between Mitsubishi's Pajero and Montero," company's Executive Vice-President Y V S Vijay Kumar told reporters here on the sidelines of HM's tie-up with Pune-based Opulent Auto Care.
From the Sensex pack, HCL Tech, Infosys, Tata Consultancy Services, Hindustan Unilever, Sun Pharma and Titan were among the biggest gainers. In contrast, Tata Motors Passenger Vehicles, Maruti, Adani Ports and Bajaj Finance were among the laggards.
From the Sensex pack, Eternal, Bharat Electronics Ltd, Trent, Axis Bank, State Bank of India, Bajaj Finance, Sun Pharmaceuticals, Asian Paints, Adani Ports, Hindustan Unilever, Reliance Industries, ITC, PowerGrid, Tata Motors Ltd's Commercial Vehicles business, and Bajaj Finserv were the gainers. Infosys, Tata Motors Passenger Vehicles, Tata Steel, ICICI Bank, Tech Mahindra, Titan, UltraTech Cement, Maruti Suzuki India, and Larsen & Toubro were the laggards.
From the Sensex firms, State Bank of India, Bajaj Finserv, Bajaj Finance, Maruti, HCL Tech, Larsen & Toubro, Mahindra & Mahindra and Infosys were among the major winners. However, Hindustan Unilever, Eternal, Tata Motors Passenger Vehicles, and Sun Pharma were among the laggards.
From the Sensex pack, Asian Paints, ICICI Bank, PowerGrid, Larsen & Toubro, Bajaj Finserv, Bharti Airtel, Sun Pharmaceuticals, Maruti Suzuki India, Axis Bank, UltraTech Cement and HCL Technologies were the only gainers. On the other hand, Eternal, Tata Motors' commercial vehicles arm, Mahindra & Mahindra, Tata Steel, Bharat Electronics Ltd, Tata Motors Passenger Vehicles, Trent, Tata Consultancy Services, Hindustan Unilever, and Infosys were among the laggards.
From the Sensex pack, Eternal, Maruti Suzuki India, Kotak Mahindra Bank, Mahindra & Mahindra, Tech Mahindra, Titan, HDFC Bank, PowerGrid, Bajaj Finserv, HCL Technologies, Bajaj Finance and Larsen & Toubro were among the gainers. On the other hand, Tata Motors Passenger Vehicles, Asian Paints, UltraTech Cement, Bharat Electronics Ltd, Tata Steel, Adani Ports, Hindustan Unilever, ITC, Tata Consultancy Services and Reliance Industries were the only laggards.
The DRDO conducted the test in collaboration with the Aeronautical Development Agency and Hindustan Aeronautics Limited.
Among the Sensex firms, Infosys, HCL Technologies, Bajaj Finance, Asian Paints, Tata Motors Passenger Vehicles, Tata Consultancy Services, Bharti Airtel, Titan, Bajaj Finserv, Reliance Industries and Larsen & Toubro were the gainers. Trent Ltd, Eternal, Power Grid, UltraTech Cement, Mahindra & Mahindra, Axis Bank, State Bank of India, Adani Ports, Hindustan Unilever and NTPC were the laggards.
Among the Sensex firms, Bharat Electronics Ltd, Mahindra & Mahindra, Adani Ports, HCL Technologies, Eternal, Infosys, Bharti Airtel, Sun Pharmaceuticals, Larsen & Toubro, Hindustan Unilever and UltraTech Cement were the gainers. Bajaj Finance, Tata Motors Passenger Vehicles, Kotak Mahindra Bank, PowerGrid and Tata Steel were among the laggards.
In an event-heavy week, stock investors will track ongoing quarterly earnings, the US Federal Reserve's interest rate decision, and macroeconomic data for market direction, analysts said. Moreover, progress in India-US trade negotiations will remain a key focus for investors, an expert said.
Among Sensex firms, Tata Motors, Infosys, Hindustan Unilever, Power Grid, Bharat Electronics, ITC, UltraTech Cement and Tata Consultancy Services were the major laggards. However, Adani Ports, Bajaj Finance, Bajaj Finserv and Axis Bank were among the gainers.
Among Sensex firms, ITC, Bharti Airtel, Trent, Bajaj Finserv, Titan and Reliance Industries were the major laggards. However, UltraTech Cement, Adani Ports, Tata Motors, Bharat Electronics, Bajaj Finance and Hindustan Unilever were among the major gainers.
Among Sensex firms, Eternal, Sun Pharma, Infosys, HDFC Bank, HCL Tech, Hindustan Unilever, Power Grid, ITC and Adani Ports were the major gainers. However, Tata Motors, Trent, Bajaj Finance and Asian Paints were among the laggards.
Among Sensex firms, Tata Motors, Bharat Electronics, UltraTech Cement, Tech Mahindra, Mahindra & Mahindra, ICICI Bank, Tata Consultancy Services and Axis Bank were the major laggards. However, Power Grid, Hindustan Unilever, NTPC and HCL Tech were among the gainers.
From the Sensex firms, Bharat Electronics, Bajaj Finance, Bajaj Finserv, Axis Bank, Maruti and Tata Motors were among the gainers. However, Eternal, Hindustan Unilever, Trent and Titan were the major laggards.
Among Sensex firms, Mahindra & Mahindra, Asian Paints, Kotak Mahindra Bank, ICICI Bank, Tata Motors and Larsen & Toubro closed with losses. However, Power Grid, NTPC, Tata Steel and Hindustan Unilever were the major gainers.
Among Sensex firms, Mahindra & Mahindra, Tata Motors, Trent, Eternal, Asian Paints and Infosys were the major gainers. However, Sun Pharma, ITC, Hindustan Unilever and Titan were among the laggards.
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