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Hittco Precision Tool Tec Ltd.

BSE Live

Jun 09, 16:00
4.14 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
366
10-Day
280
30-Day
312
900
  • Prev. Close

    4.14

  • Open Price

    4.14

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    4.14 (100)

Hittco Precision Tool Tec is not traded on BSE in the last 30 days

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
  • Prev. Close

    -

  • Open Price

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

Hittco Precision Tool Tec is not listed on NSE
Company History - Hittco Precision Tool Tec
The company was incorporated as a public limited company on the 4th
 January 1995. Its present authorised capital stands at Rs.650 lacs.
 The company is promoted by Mr.Surendra Bhandari, his associates and
 members of his family, and B.I.Holdings (Bangalore) Private Limited.
 an investment company promoted by Mr.Surendra Bhandari.  The company
 has
 filed with the Secretariat of Industrial Approvals (SIA) the
 Industrial Entrepreneur's Memorandum vide letter dated the 14th
 September 1995 for the manufacture of drills and taps and has
 received the acknowledgement (No. 5588/SIA/IMO/95 dated 10-11-1995).
 
 The company had initially decided to locate the project in
 Gummidipoondi in Tamilnadu and has acquired land admeasuring 2.50
 acres in the SIPCOT Industrial Complex at Gummidipoondi on lease. The
 company subsequently decided to alter the project concept and to
 locate the same at Peenya
 Industrial Area where the promoters already have an existing base.
 The project can be segregated into two distinct components: (a) to
 take on lease the assets of an existing profit-making two decades old
 proprietory concern of Mr.Surendra Bhandari named Hindustan Tools
 Corporation as a going concern, and (b) to expand installed capacity
 and establish facilities to diversify the product range on its own
 account.
 
 Lease arrangement between the Company and Hindustan Tools
 Corporation
 
 Hindustan Tools Corporation was established in 1971 as a proprietory
 concern of Mr.Surendra Bhandari to manufacture a range of drills and
 has, over the years.  established the brand name HITTCO in the
 domestic markets. The firm has a good track record of performance and
 growth. and details in this regard are given elsewhere in this
 Prospectus. The
 lease arrangement between the company and Hindustan Tools Corporation
 has been made effective from the 15th September 1995 and will be in
 force for a period of twentyfive years. In terms of the arrangement,
 the company has acquired the entire assets of Hindustan Tools
 Corporation, other than sundry debtors and sundry creditors, on a
 lease basis as a
 going concern for a consideration of Rs,90 lacs. This amount is
 viewed as reasonable by KSIIDC who has appraised the project and
 sanctioned the term loan. The benefits to the company, besides the
 use of the fixed assets of value approximately Rs.168,32 lacs as per
 approved valuer's
 report, includes the use of the well-established brand name HITTCO as
 also a well-trained workforce and an established marketing office
 network, For more details in regard to valuation, please see
 paragraph under the head cost of project.
 
 2000 - The Company has changed its identity to become Hittco Online
        Technologies Ltd. (HOTL) as part of its strategy to enter the
        Internet and IT-enabled services segment.
 
      - The Company is set to launch a transaction-based B2B portal
 for
        tools and industrial consumables - toolconsume.com.
 
 
 2007
 
 -Hittco Tools Ltd has appointed Mr. Sidharth Bhandari as Managing
 Director of the Company with effect from December 13, 2007.
 
 2008
 
 -Hittco Tools Ltd has appointed Mr. Shimoga Ramarao Satish, Mr.
 Nuggehalli Krishnaswamy Raghunatha and Mr. Rajeev Gobindram Hassanand
 as Independent Directors of the Company with effect from May 19,
 2008.
 
 2012
 --Registered Office of the Company has been shifted  from IEM House,
 # 42, Nandidurg Road, 1st Floor, (Above Cafe Coffee Day), Bangalore -
 560 046. to HTC Aspire, # 19, Ali Asker Road, 2nd Floor, Bangalore -
 560 052