Ashok Leyland has moved up on news that it was in talks with Renault-Nissan for making small cars. The stock is trading at Rs 53, stronger by 1.5%, on the BSE.
Nissan will launch its compact car Micra by July this year, while Renault is also looking to tap on Nissan's small car platform for the Indian market. But since this alliance does not have anything below Micra and above the ultra-low cost car developed with Bajaj Auto, it is talking to Ashok Leyland for developing a new small car.
Ashok Leyland is a commercial vehicle manufacturing company based in Chennai.