Ashok Leyland inches up on inking pact with ETG Group to strengthen presence in Africa
Ashok Leyland is currently trading at Rs. 138.00, up by 0.60 points or 0.44% from its previous closing of Rs. 137.40 on the BSE.
The scrip opened at Rs. 139.40 and has touched a high and low of Rs. 139.40 and Rs. 137.20 respectively. So far 192178 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. 143.10 and Rs. 135.00 respectively. The current market cap of the company is Rs. 40451.57 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 strengthened its operations in southern region of Africa by inking a distribution pact with ETG group's logistics, warehousing and distribution vertical. ETG is a global conglomerate operating across various segments, with a deep focus on uplifting Sub-Saharan Africa. As part of the tie-up, ETG Logistics (ETGL) will operate dealerships for Ashok Leyland in six key southern African countries. ETG group's extensive connect in these markets will complement company's growth plan. The partnership will be instrumental in bringing a range of commercial vehicles solutions to address specific requirements of different customer groups in the territory.
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.