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Volume 15.3M
As of 6:40 PM 08/1/14 All times are local (Market data is delayed by at least 15 minutes).
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McClatchy-Tribune  05/25/2014 3:48 AM ET
BRIEF: Hindustan Motors suspends production at Uttarpara plant [Mint, New Delhi :: ]

May 25--KOLKATA -- Hindustan Motors Ltd, the maker of the Ambassador car, on Saturday announced suspension of work at its Uttarpara factory near Kolkata, putting at risk at least 2,500 jobs.

In a stock market filing, Hindustan Motors said on Saturday it had to halt production in view of "low productivity, growing indiscipline, critical shortage of funds, lack of demand for its core product, the Ambassador, and large accumulation of liabilities".

West Bengal's labour minister Purnendu Bose said in television interviews that the state government will intervene to find a solution.

Trading in Hindustan Motors' shares had to be halted on Friday after it jumped 19.9% to Rs.13.30 on BSE.


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