Ashok Leyland rose 1.38% to Rs 95.70 at 09:28 IST on BSE after the company confirmed that it bagged orders from State Transport Undertakings for 2,580 buses.
The announcement was made after market hours yesterday, 9 January 2019.Meanwhile, the S&P BSE Sensex was down 29.95 points, or 0.08% to 36,182.96
On the BSE, 4.56 lakh shares were traded in the counter so far compared with average daily volumes of 17.34 lakh shares in the past two weeks. The stock had hit a high of Rs 97 and a low of Rs 95.40 so far during the day. The stock hit a 52-week high of Rs 167.50 on 8 May 2018. The stock hit a 52-week low of Rs 92.30 on 8 January 2019.
Ashok Leyland confirmed that it bagged orders from IRT (Institute of Road Transport, Chennai), UPSRTC (Uttar Pradesh State Roadways Transport Corporation) and CTU (Chandigarh Transport Undertaking) for 2,580 buses. All these buses can be delivered before March 2019.
Speaking about these orders, Vinad K.Dasari, Managing Director, Ashok Leyland, said the company's ability to bring value, combined with superior technology and innovation will help it maintain leadership position in buses in India.
Net profit of Ashok Leyland rose 37.49% to Rs 459.58 crore on 24.58% rise in net sales to Rs 7369.71 crore in Q2 September 2018 over Q2 September 2017.
Ashok Leyland, flagship of the Hinduja group, is a manufacturer of commercial vehicles in India. The company is currently the fourth largest manufacturer of buses in the world and India's largest bus manufacturer.
Powered by Capital Market - Live News