Ashok Leyland gains as its unit to set up manufacturing and technology centre in Spain
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Ashok Leyland is currently trading at Rs. 126.45, up by 0.10 points or 0.08% from its previous closing of Rs. 126.35 on the BSE.
The scrip opened at Rs. 128.00 and has touched a high and low of Rs. 128.25 and Rs. 125.00 respectively. So far 280452 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 153.40 on 16-Nov-2021 and a 52 week low of Rs. 87.30 on 22-Dec-2020.
Last one week high and low of the scrip stood at Rs. 130.25 and Rs. 124.80 respectively. The current market cap of the company is Rs. 36987.64 crore.
The promoters holding in the company stood at 51.54%, while Institutions and Non-Institutions held 35.96% and 12.50% respectively.
Switch Mobility, a unit of Ashok Leyland, has planned to set up a manufacturing and technology centre in Spain with plans to invest 100 million Euros (about Rs 860 crore) over the next ten years. With already a significant presence in the UK and India, the new facility will extend Switch’s footprint as part of the company’s global plans.
The facility will comprise two production lines and is expected to see the first buses produced in the fourth quarter of next year.
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.
