ALGOQUANT FINTECH Share price

The company was incorporated in the year 1962 as a PublicLimited Company under the name of Hindustan Dowidat ToolsLimited in technical collaboration with Dowidat Werke WilliDowidat of Germany to manufacture high quality hand toolsof international standard. The commercial production wascommenced in the year 1963 at its factory located atVillage Jatheri Dist. Sonepat (Haryana). The company isone of the pioneers in the field of manufacturing qualityhand tools in the country.The company was marketing its products under the brand nameof DOWIDAT in the domestic market and certain limitedexport markets and under the brand name of EVEREST in otherexport markets world-wide.As the agreement with M/s. Dowidat Werke Willi Dowidat wasfor a fixed period of 10 years and it was thought best byboth the parties not to renew the agreement further as thetotal technology had been successfully absorbed by thecompany the agreement ended and in the year 1974 thename of the company was changed to HINDUSTAN EVEREST TOOLSLIMITED and thereafter its products are being marketedunder the brand name of EVEREST both in the domestic aswell as export markets world-wide.Besides exporting a major portion of its products to over35 countries world-wide including the highly discerningmarkets such as Germany France Italy UK USA and Japanthe company is supplying hand tools to the entireautomobile sector of the country such as Maruti UdyogLimited Bajaj Auto Limited Mahindra & Mahindra Limitedand Hindustan Machine Tools Limited to name just a few.and institutional consumers of hand tools such as ONGCGSI MECL and the Defence Sector Vehicle Factories besidescommanding a premium position in the wholesale and retailmarkets all over the country.The Company has not faced any labour problems/closure/litigations/defaults in the past threeyears.