Neither Tata nor Adani, latest multibagger is a long-forgotten Birla stock
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Synopsis
In the last financial year 21-22, the company had not reported any revenue from operations as against Rs 1.17 crore in FY21. The other income, however, jumped to Rs 14.58 crore against Rs 11.01 crore in FY21. The profit of the company jumped to Rs 18.65 crore against Rs 3.76 crore a year ago.
The sharp rally in Hindustan Motors shares came after reports that the Ambassador car, which was the king of Indian roads once upon a time, will make a comeback with a new engine and design in the form of 'Amby'. To build the modern EV, Hindustan Motors has signed an MoU with a European company, reports said.
The report, quoting Hindustan Motors director Uttam Bose, said HM and the European car maker are likely to invest Rs 600 in the joint venture and that the new car is likely to be launched in 2024.
In the last financial year 21-22, the company had not reported any revenue from operations as against Rs 1.17 crore in FY21. The other income, however, jumped to Rs 14.58 crore against Rs 11.01 crore in FY21. The profit of the company jumped to Rs 18.65 crore against Rs 3.76 crore a year ago.
The stock, however, has no analyst rating yet.
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