Ashok Leyland rides high after its arm inks pact with TVS SCS for establishing sustainable logistics network
Ashok Leyland is currently trading at Rs. 116.70, up by 1.10 points or 0.95% from its previous closing of Rs. 115.60 on the BSE.
The scrip opened at Rs. 116.40 and has touched a high and low of Rs. 116.90 and Rs. 115.00 respectively. So far 235709 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 138.85 on 04-Feb-2021 and a 52 week low of Rs. 42.05 on 29-May-2020.
Last one week high and low of the scrip stood at Rs. 117.45 and Rs. 110.25 respectively. The current market cap of the company is Rs. 34286.96 crore.
The promoters holding in the company stood at 51.54%, while Institutions and Non-Institutions held 34.80% and 13.58% respectively.
Ashok Leyland’s subsidiary -- Switch Mobility and the United Kingdom based developer of e-buses and light commercial vehicles, has inked a partnership with TVS Supply Chain Solutions (SCS) for establishing a sustainable logistics network in the country. Under the arrangement, TVS Supply Chain Solutions will operate 1,000 e-light commercial vehicles through their partners for its logistics operations provided by Switch Mobility. TVS Supply Chain Solutions has over two decades of experience in providing supply chain solutions across the globe through their fully integrated service offerings.
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.