 "Ashok Leyland undertakes cost cutting measures to save Rs 500 crore")
Hinduja Group's flagship company Ashok Leyland Ltd (ALL) has invested Rs 18.66 crore in Prathama Solarconnect Energy Private Limited, for a 26 per cent stake in the company's paid-up share capital.
Prathama Solarconnect Energy is part of the Hinduja Renew group, and is engaged in solar power generation business. The company has reported a loss of Rs 76.97 lakh in 2019-20.
According to a Crisil report last September, the group is currently developing 75 Mw (about 40 per cent of overall capacity) of group captive solar power plant under PSEPL for Ashok Leyland.
Therefore, the group remains exposed to stabilisation and implementation related
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