Ashok Leyland is currently trading at its upper circuit limit of Rs. 36.35, up by 0.05 points or 0.14% from its previous closing of Rs. 36.30 on the NSE.
The scrip opened at Rs. 36.60 and has touched a high and low of Rs 36.85 and Rs 35.80 respectively. So far 57,95,996 shares were traded on the counter.
The stock of face value Rs 1 has touched a 52 week high of Rs. 39 on 26-June-2014 and a 52 week low of Rs. 11.75 on 26-Aug-2013.
Ashok Leyland has raised more than Rs 666 crore through allotment of shares at a price of Rs 36 per share to institutional investors. The QIP issue of 1,852 lakh equity shares of face value of Re 1 each had opened on June 26. The fund raising committee of the company had fixed the floor price at Rs 34.30 per share.
Earlier, the company’s fund raising committee has approved the issue price of Rs 36 per equity share, which is at a premium of Rs 1.70 per share, to the Floor Price of Rs 34.30 per equity share. The committee also approved closure of the qualified institutional placement (QIP) on July 2, 2014.
Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.
