Ashok Leyland surges on bagging order worth $170 million from Tanzania Government

Ashok Leyland is currently trading at Rs 87.05, up by 1.40 points or 1.63% from its previous closing of Rs. 85.65 on the BSE.

The scrip opened at Rs. 86.20 and has touched a high and low of Rs. 87.30 and Rs. 86.00 respectively. So far 761708 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 112.80 on 13-Apr-2016 and a 52 week low of Rs. 75.15 on 30-Sep-2016.

Last one week high and low of the scrip stood at Rs. 87.30 and Rs. 79.00 respectively. The current market cap of the company is Rs. 24787.59 crore.

The promoters holding in the company stood at 50.38%, while Institutions and Non-Institutions held 18.70% and 30.92% respectively.

Ashok Leyland has bagged an order worth $170 million from the Government of the United Republic of Tanzania for the purchase of company’s vehicles, gensets, spares and equipment for development of workshops, training modules and allied equipment to be fitted on ambulances. This order reaffirms the continued trust the Government of the United Republic of Tanzania has posted in company’s products and services. The order is being financed fully by EXIM Bank of India under National Export Insurance Account (NEIA) Scheme.

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