HIRA AUTOMOBILES Share price

The Company was incorporated as HIRA AUTOMOBILES PVT. LTD.in the Union Territory of Chandigarh on July 6 1989 with theRegistrar of Companies Himachal Pradesh Punjab and Chandigarhat Jalandhar. The company was initially promoted by Mr.Dhanwant Singh Sangha and Smt. Rajinder Kaur Bhattal. It was later converted into Deemed Public Company on 20th June''95 U/S 43A of the Companies Act 1956 vide orders dated August 23 1995 and was subseqently vide resolution passed in the Extra Ordinary General Meeting on 7th August 1995 under meaning of Section 3(1)(iv) of Companies Act 1956 changed into Public company the sanction of which was obtained by The Registrar of Companies on September11 1995 HAL is a profit making company with the sole dealershipfor Maruti Udyog Ltd in Patiala District. They have been allotted dealership on 8th Nov.1989. It has an existing workshop for servicing and repair of the vehicles sold in Patiala. The company now proposes to set up an additional workshop facility at Ludhiana and opening of new Showroom at Patiala besides expansion and modernization of existing workshop the construction of which has already begun. Maruti Udyog Limited vide their later No. MUL:RO(N-II): SER dated August 23 1995 has intimated to the company that they may open workshop within their Sales territory and Ludhiana falls under company''s sales territory. There will not be any extra Allocation of Quota of cars from Maruti Udyog Limited. This project would further enhance the capacity of it''s workshop to 50 cars per shift.The company has been rendering quality services to its customersand has been awarded All India Skill Competition Sheild (Regionwise) from Maruti Udyog Limited for the year 1994-95.The company has not faced any labour problems during last 3years and the unit has never been shut down due to any labourproblem.