Ashok Leyland shares surge over 5%

Shares of Ashok Leyland surged over 5 per cent as the company received orders for around 4,000 buses from State Transport Undertakings valued at Rs 1,500 crore.
Ashok Leyland's stock gained 5.44 per cent to settle at Rs 40.70 on the BSE. During the day, it climbed 6.99 per cent to Rs 41.30 -- its 52-week high.
At the NSE, the scrip settled 5.57 per cent higher at Rs 40.75.
On the volume front, 64.71 lakh shares of the company changed hands at the BSE, while over 4 crore shares were traded at the NSE during the day.
A total of 22 State Transport Undertakings (STUs) across the country, including Calcutta State Transport Corporation, Bangalore Metropolitan Transport Corporation and Andhra Pradesh State Road Transport Corporation have placed large orders for the buses, Ashok Leyland said in a filing to BSE.