HINDUSTAN MOTORS: JAMMED BRAKES
Article Abstract:
Hindustan Motors (HM) which manufactures automobiles and earth moving equipment has come out with a rights issue to mobilise Rs53.74 crore. The proceeds of the issue will be utilised to part finance its Rs503 crore car projects. Promoted by CK Birla group, HM manufactures Ambassador brand of cars. HM will tie up with Mitsubishi of Japan to manufacture Lancer cars. The cost of the project is estimated at Rs298 crore and the commencement of production will begin in October 1998. It is setting up manufacturing facilities at Pithampur to manufacture multi utility vehicles targeted at rural sector. The Rs37 crore plant will have a capacity to produce 7,700 vehicles per year. It has taken up expansion and modernisation of its earth moving equipment division. The capacity will be increased from 780 units per annum to 1,020 units per annum in a phased manner in 2001-2002. The cost of the project is estimated at Rs65 crore. Its expansion and modernisation of power products division envisages an outlay of Rs20 crore. Under the project, the capacity will be raised to 1,500 transmissions per annum from the present 1,000 transmissions per annum. It has planned for an auto modernisation project at an outlay of Rs51 crore. (gs) actures Ambassador brand of cars. HM will tie up with Mitsubishi of Japan to manufacture Lancer cars. The cost of the project is estimated at Rs298 crore and the commencement of production will begin in October 1998. It is setting up manufacturing facilities at Pithampur to manufacture multi utility vehicles targeted at rural sector. The Rs37 crore plant will have a capacity to produce 7,700 vehicles per year. It has taken up expansion and modernisation of its earth moving equipment division. The capacity will be increased from 780 units per annum to 1,020 units per annum in a phased manner in 2001-2002. The cost of the
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
HINDUSTAN LEVER
Article Abstract:
In the 9 months ended September 1998, Hindustan Lever Ltd made a net profit of Rs564.90 crore. In the 12 months ended December 1998, it had made a net profit of Rs546.20 crore. Its sales were Rs7,093.20 crore (Rs8,519.80 crore). Its earning per share was Rs28.36. It is expected to make a net profit of more than Rs800 crore in the 12 months ending December 1998. Hindustan Lever Ltd is India's largest multinational consumer goods company. It has absorbed Ponds and Lakme and now proposes to invest Rs300 crore in building a chain of cold-storage facilities for ice-creams. It has about 3 million outlets all over India. (tsm)
Comment:
In the 9 months ended September 1998, Hindustan Lever Ltd made a net profit of Rs564.90 crore.
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1999
User Contributions:
Comment about this article or add new information about this topic: