Ashok Leyland is likely to cut its debt by Rs 1,000 crore by the end of current fiscal. It will be divesting non-core assets in order to reduce its debt. At present it has the debt of about Rs 6,000 crore and it aims to bring it down to Rs 5,000 crore by the end of this year. The company will also sell some non-strategic investments and reduce working capital for reducing debt.
Recently, Hinduja group company has rolled out a new truck powered by the Neptune family of engines, the 3120 MAV. It is planning to introduce a series of new models over the next few months. These include the Jan Bus, the Boss range and the Dost family of vehicles. Commercial vehicle maker has developed the Neptune family of engines at an investment of over Rs 500 crore.
