Hindustan Motors up 16% on sale of Ambassador brand at Rs 80 cr

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26 Aug, 2025 12:21

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Moneycontrol BureauShares of Hindustan Motors touched 52-week high of Rs 12.80, gains more than 16 percent intraday Monday as it has entered into agreement for sale of its Ambassador brand.The company has executed an agreement with Peugeot S.A. for the sale of the Ambassador brand and certain related rights to Peugeot S.A for a consideration of Rs 80 crore.The sale of the Ambassador brand shall be effective upon fulfilment of the terms & conditions as prescribed in the said abovementioned agreement.Also Read - Peugeot buys 'Ambassador' for Rs 80cr, few facts you should knowThe company, which was established in 1942, initially began assembly operations before moving to full-fledged production in the mid-1950s. Having started operations a year after independence, Hindustan Motors began importing tools and machines of the Amby from Great Britain, which was the centre of production for Series III of the Morris Oxford.At its peak in the 1970s the Ambassador had 75 percent market share.The car used to touch sales figures of 6,000 units a month, in the early 80s. The feat is more significant given many brands struggle to even clock 5,000 units a month in this day and age.The company's board meeting will be held on February 13, to consider and approve the unaudited financial results for the third quarter ended December 31, 2016.At 10:37 hrs Hindustan Motors was quoting at Rs 12.21, up Rs 1.21, or 11 percent on the BSE.Posted by Rakesh Patil