MoneyWorks4Me

Ashok Leyland’s stake in Hinduja Tech decreases to 74.25%

23 Nov 2022 Evaluate

Ashok Leyland’s subsidiary -- Hinduja Tech (HTL) has allotted 5,14,61,988 equity shares representing 24.82% of its expanded equity share capital, to Hinduja Automotive, U.K. (HAL) on preferential basis.

Consequent to the above, Company’s shareholding in HTL stands decreased from 98.76% to 74.25%. The decrease in company’s holding in HTL is only due to allotment of shares by HTL to HAL on preferential basis.

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.

Peers
Company Name CMP
Tata Motors 431.50
Ashok Leyland 150.00
Force Motors 17003.85
Olectra Greentech 1094.00
SML Mahindra 6080.00
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