Ashok Leyland moves up on getting nod to acquire stake in OHM Global Mobility
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Ashok Leyland is currently trading at Rs. 188.30, up by 1.40 points or 0.75% from its previous closing of Rs. 186.90 on the BSE.
The scrip opened at Rs. 186.55 and has touched a high and low of Rs. 188.25 and Rs. 185.55 respectively. So far 412240 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 191.00 on 11-Aug-2023 and a 52 week low of Rs. 133.10 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 191.00 and Rs. 182.10 respectively. The current market cap of the company is Rs. 54846.86 crore.
The promoters holding in the company stood at 51.53%, while Institutions and Non-Institutions held 37.44% and 11.01% respectively.
Ashok Leyland has received approval for acquisition of shares of OHM Global Mobility (OHM India) from OHM International Mobility, making OHM India a direct wholly owned subsidiary of the Company. The company has also received approval for investment of Rs 300 crore in OHM India in one or more tranches. This is part of Company’s EV strategy to engage in the business of eMaaS. This would likely result in enhancing the operational efficiency and synergy. The Board of Directors at their meeting held on August 14, 2023 has approved the same.
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.
