Strong appreciation of the yen and depreciation of the rupee hit the margins of Hindustan Motors Ltd (HM) even as operations of its Chennai plant were adversely affected, a top company official said today. Operations at the Chennai car plant, which manufactures Lancer, Cedia, Pajero and Outlander models, suffered because of lower volumes caused by adverse foreign exchange rates and high interest rates, company's Chairman C K Birla said in his speech to shareholders at HM's annual general meeting here.He said the company has asked Japan's Mitsubishi Corp, with which it has a technological agreement, to reduce the kit prices in view of the adverse exchange rates. Birla said the company is working on the introduction of BS-IV diesel engines for its Ambassador cars for the taxi segment. The company hopes to launch the BS-IV diesel engines by the end of the financial year. Birla said the company was making all efforts to return to the growth path as soon as possible. "I know it is taking a long time", he said. Last year, the company sold 4,000 cars including 2,500 Ambassador models. New Ipad Application :Business Standard's all new IPad App Click here to download for free Ads by Google Long Term BlueChip Shares :Exclusive List of Indian BlueChipShares. Get it Free. Act Now! Equitymaster.com/BlueChip-Shares Learn how to invest :With a financial online coursefrom ICICIdirect CFL. Know more! icicidirect.com/FinancialLearning Other Stories - Markets end near intra-day highs - Sridar A Iyengar retires from Infosys' Board - Sebi's reported IPO measures not good enough - GoAir inks pact with Lufthansa Technik for fleet maintenance - Weak rupee, strong yen hit Hindustan Motors' margins: Birla Tags : Weak rupee | strong yen | Hindustan Motors | Birla Read Business news in Advertisements - Find out the Best of Blue-chip Stocks with Nifty 50. - Buy, Sell or Lease, Residential or Commercial Property. Click here - We are on a mission to detect Cancer early. Learn More - Save Money with our current flight offers a great value prices. Click Here - 51% Off plus Hidesign Bag free! Click here to know more - Just another way GE works to help doctors cure India. - The flight: for less. The world: for us. The memories: forever. from Rs. 42300 Europe. - With a falling rupee rate Invest on properties in India now! - Creating more smiles per cubicle : New business paradigm - Try the smarter way to save regulary! Know More - Get Smarter with Teamcenter 9. Smarter decisions, better products. - Our designation doesn t just help the careers, It build respect. - Which is the best plan for your daughter - For Improved Productivity & Better Storage Efficiency. Click here - Now Buy a New Broadband online & Get Rs 500 Cashback. - Trustworthy Innovative Solutions To Realize Potential. Click here - Join The No.1 Distance Education University. Click here - Stock investing - The Safest Way. Click here

Source