Ashok Leyland gains on partnering with Mahindra First Choice Wheels
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Ashok Leyland is currently trading at Rs. 127.80, up by 0.20 points or 0.16% from its previous closing of Rs. 127.60 on the BSE.
The scrip opened at Rs. 127.00 and has touched a high and low of Rs. 128.40 and Rs. 125.15 respectively. So far 516698 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. 93.20 on 08-Mar-2022.
Last one week high and low of the scrip stood at Rs. 131.60 and Rs. 125.15 respectively. The current market cap of the company is Rs. 37516.04 crore.
The promoters holding in the company stood at 51.54%, while Institutions and Non-Institutions held 35.47% and 12.99% respectively.
Ashok Leyland has joined hands with Mahindra First Choice Wheels to enter the used commercial vehicles business. The company has inked a MoU with Mahindra First Choice Wheels (MFCWL) in this regard. The phygital platform, as part of the partnership, will facilitate an exchange and proper disposal and purchase of old commercial vehicles.
With the entry into this segment, the commercial vehicle major aims to streamline the used vehicles market by leveraging its digital ecosystem, its existing and potential channel partners for physical interactions in over 700 parking yards spread across the country, and other advanced technologies.
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.
