Hercules Hoists Ltd Share Price

Summary

Hercules Hoists Limited, a Bajaj Group of Company was incorporated in Jun 1962. The Company manufactures material handling equipments, such as, Chain Pulley Blocks, Chain and Wire Rope Electric Hoists, Ratchet Hoists, Winches, Traveling Trolleys, Storage & Retrieval Cranes, Roll-out Racks, Light Profile Crane Systems, Pulling and Lifting Machines, H.O.T./E.O.T./Jib Cranes, Floor Operated Stacker Cranes and Stores Stacker Cranes. The Company supplies products to various industries, such as, iron and steel, cement, oil and gas, chemicals, construction, material handling equipments manufacturers, state electricity boards, turnkey solutions providers, etc., wherever unit loads are moved. The Company is also marketing Shrouded Conductors of AKAPP, Netherlands. In 2000-2001, the company completed the development of new range of Chain Electric Hoists and Ratchet Lever Hoists. Both the products are expected to do well in the export and domestic market. The company is also developing new range of Wire Rope Electric Hoists jointly with M/s Bull S.r.l., Italy. With effect from February 1, 2001, the companys agreement with M/s Batliboi Ltd for the 50:50 Joint Venture marketing company Indef Marketing Services Ltd was terminated and Hercules Hoists bought over their 100000 shares at the face value of Rs.10.00 and paid a compensation of Rs.1 crore towards exiting from the JV and non-competition by them for a period of five years. Thus the Indef Marketing Services become a wholly owned subs
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