Ashok Leyland gains on plan to increase stake in Optare plc to 75.1%

Ashok Leyland Ltd. | Automobiles-Trucks/Lcv | Automobiles | BSE: 500477 | NSE: ASHOKLEY

21 Dec 2011 Evaluate

Ashok Leyland is currently trading at Rs 21.75, up by 0.10 points or 0.46% from its previous closing of Rs 21.65 on the BSE.

The scrip opened at Rs 23.20 and has touched a high and low of Rs 23.20 and Rs 21.45 respectively. So far 381354 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 34.35 on 05-Jan-2011 and a 52 week low of Rs 20.75 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs 24.80 and Rs 20.75 respectively. The current market cap of the company is Rs 5760.36 crore.

The promoters holding in the company stood at 38.61% while Institutions and Non-Institutions held 31.58% and 16.38% respectively.

Ashok Leyland, the Hinduja Group flagship company, together with its associate company will increase its stake in the British bus maker, Optare plc to 75.1%. This move fully integrates Optare into Ashok Leyland's global strategy for buses. The company has received board approval for the same at its meeting held on December 20, 2011.

Further, this acquisition is subject to approval by the shareholders of Optare plc and possible due to a re-financing agreement. Ashok Leyland had initially acquired 26% stake in Optare in July 2010 as part of a long-term strategic partnership.

The re-financing has been achieved by the company facilitating a credit-line to support Optare's re-banking options and providing a substantially improved working capital facility for the business. Alongside, Ashok Leyland will reach 75.1% of the company's share capital through placing of shares raising new equity.

Ashok Leyland Share Price

168.65 -2.05 (-1.20%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Ashok Leyland	168.65
Force Motors	20878.00
Olectra Greentech	1340.60
Tata Motors	431.10
SML Mahindra	3800.40
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