Ashok Leyland surges 6% on winning orders worth Rs 1,500 cr

Shares of Ashok Leyland are up nearly 6% at Rs 40.75, also its 52-week high after the company received orders for around 4,000 buses from State Transport Undertakings (STUs) under the JNNURM-II scheme. The orders are worth around Rs 1,500 crore.

A total of 22 STUs across the country including Calcutta State Transport Corporation (CSTC), Bangalore Metropolitan Transport Corporation (BMTC), Andhra Pradesh State Transport Corporation (APSRTC), Jaipur City Transport Services Ltd) and Pune Mahanagar Parivahan Mahamandal Ltd (PMPL) have placed large orders with the company.

The stock opened at Rs 38.85 and touched a high of Rs 41.10 as of now. Over 3,077,266 shares are traded on both the BSE so far.