Ashok Leyland rides high on betting big on infra projects in eastern part for MHCV category
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Ashok Leyland is currently trading at Rs. 152.75, up by 0.85 points or 0.56% from its previous closing of Rs. 151.90 on the BSE.
The scrip opened at Rs. 150.80 and has touched a high and low of Rs. 153.65 and Rs. 150.80 respectively. So far 205299 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 169.40 on 06-Sep-2022 and a 52 week low of Rs. 128.35 on 17-Jun-2022.
Last one week high and low of the scrip stood at Rs. 153.65 and Rs. 144.50 respectively. The current market cap of the company is Rs. 44922.75 crore.
The promoters holding in the company stood at 51.53%, while Institutions and Non-Institutions held 37.09% and 11.38% respectively.
Ashok Leyland is betting big on various infrastructure projects coming up in the eastern part of the country for its medium and heavy commercial vehicles (MHCV) category. The company will be investing around Rs 500 crore to Rs 700 crore in alternate fuel technologies and debottlenecking at its plants located in various places like Chennai, Pantnagar, Hosur among others in India and several overseas.
To expand the portfolio, the company will launch a plethora of new products in the medium and heavy commercial vehicle segment this financial year, including six buses and nine trucks. The MHCV segment is categorised as gross vehicle weight (GVW) between 7.5 tonnes and 55 tonnes.
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.
