Ashok Leyland soars on bagging mega order in UAE
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Ashok Leyland is currently trading at Rs. 158.85, up by 4.85 points or 3.15% from its previous closing of Rs. 154.00 on the BSE.
The scrip opened at Rs. 155.90 and has touched a high and low of Rs. 159.95 and Rs. 154.95 respectively. So far 136872 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 159.95 on 01-Aug-2022 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. 159.95 and Rs. 144.35 respectively. The current market cap of the company is Rs. 45207.12 crore.
The promoters holding in the company stood at 51.54%, while Institutions and Non-Institutions held 36.84% and 11.62% respectively.
Ashok Leyland's UAE distribution partners Swaidan Trading - Al Naboodah Group has secured order from major fleets for 1,400 school buses in the UAE, the company's largest ever supply of school buses in UAE. Most of the supplies will be made to Emirates Transport and STS Group.
The 55-seater Falcon bus and 32-seater Oyster bus - will be supplied from Ashok Leyland's state-of-the-art manufacturing facility in Ras Al Khaimah, UAE, which is the only certified local bus making facility in the entire Gulf Cooperation Council (GCC) region.
The Ras Al Khaimah plant is a joint venture between Ashok Leyland and the Ras Al Khaimah Investment Authority (RAKIA), UAE, and has an installed capacity of 4,000 buses a year.
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.
