Ashok Leyland surges on bagging orders from IRT, UPSRTC, CTU for 2580 buses
Ashok Leyland is currently trading at Rs. 95.90, up by 1.50 points or 1.59% from its previous closing of Rs. 94.40 on the BSE.
The scrip opened at Rs. 96.90 and has touched a high and low of Rs. 97.00 and Rs. 95.40 respectively. So far 234458 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 167.50 on 08-May-2018 and a 52 week low of Rs. 92.30 on 08-Jan-2019.
Last one week high and low of the scrip stood at Rs. 98.75 and Rs. 92.30 respectively. The current market cap of the company is Rs. 27711.38 crore.
The promoters holding in the company stood at 51.12%, while Institutions and Non-Institutions held 32.84% and 16.04% respectively.
Ashok Leyland has bagged orders from IRT (Institute of Road Transport, Chennai), UPSRTC (Uttar Pradesh State Roadways Transport Corporation) and CTU (Chandigarh Transport Undertaking) for 2580 buses. These orders are among the largest from STU's for a single OEM. All these buses can be delivered before March 2019.
Ashok Leyland is currently the 4th largest manufacturer of buses in the will and India's largest bus manufacturer. These orders would further consolidate its leadership position.
Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.
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