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Ashok Leyland speeds up on the plans of merging Ashley Services with itself

20 Nov 2013 Evaluate

Ashok Leyland is currently trading at Rs. 16.10, up by 0.15 points or 0.94 % from its previous closing of Rs. 15.95 on the BSE.

The scrip opened at Rs. 16.10 and has touched a high and low of Rs 16.10 and Rs15.85 respectively. So far 162760 shares were traded on the counter.

The BSE group 'A' stock of face value Re 1 has touched a 52 week high of Rs 28.70 on 03-Dec-2012 and a 52 week low of Rs 11.82 on 29-Aug-2013.

Last one week high and low of the scrip stood at Rs 16.05 and Rs 15.00 respectively. The current market cap of the company is Rs 4243.78 crore.

The promoters holding in the company stood at 38.61% while Institutions and Non-Institutions held 28.38% and 19.77% respectively.

Ashok Leyland has received an approval for scheme of amalgamation of Ashley Services (100% subsidiary - transferor company) with Ashok Leyland (transferee company), subject to approval of regulatory authorities as required and the High Court of Judicature, Madras. The board of directors at its meeting held on November 19, 2013 has approved for the same.

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.

The company has reported a net loss of Rs 25.05 crore or the second quarter ended September 30, 2013 as compared to a net profit of Rs 142.59 crore for the same quarter in the previous year. Total income of the company has decreased by 23.05% at Rs 2572.73 crore for quarter under review as compared to Rs 3343.34 crore for the quarter ended September 30, 2012.

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