Ashok Leyland rose 1.7% to Rs 23.90 at 9:21 IST on BSE after the company said it has bagged a contract valued at approximately $50 million from the Ministry of Tourism & Hospitality Industry, Government of Zimbabwe for supplying 670 vehicles.
The announcement was made after market hours on Wednesday, 2 April 2014.
Meanwhile, the S&P BSE Sensex was down 6.32 points or 0.03% at 22,545.17.
On BSE, so far 2.19 lakh shares were traded in the counter as against average daily volume of 47.80 lakh shares in the past two weeks.
The stock hit a high of Rs 24.05 and a low of Rs 23.80 so far during the day.
Ashok Leyland said that the order is planned to be executed in the financial year 2014-15.
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Separately, Ashok Leyland after market hours on Wednesday, 2 April 2014 said that Ashley Services, a wholly-owned subsidiary (WOS) of the company has merged with Ashok Leyland.
Ashok Leyland after market hours on Tuesday, 1 April 2014 said its total sales declined 27% to 10,286 units in March 2014 over March 2013. Sales of medium and heavy commercial vehicles declined 20% to 7,723 units in March 2014 over March 2013. Sales of light commercial vehicles (LCV) declined 41% to 2,563 units in March 2014 over March 2013. The company's sales fell 22% to 89,342 units in the fiscal ended 31 March 2014 over the fiscal ended 31 March 2013.
Ashok Leyland reported a net loss of Rs 167.21 crore in Q3 December 2013 compared with net profit of Rs 74.14 crore in Q3 December 2012. Net sales declined 19% to 1903.28 crore in Q3 December 2013 over Q3 December 2012.
Ashok Leyland, the flagship of the Hinduja Group, is the second largest maker of commercial vehicles in India after Tata Motors.
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