Ashok Leyland shines on bagging order worth $6 million for 50 Vestibule Buses

Ashok Leyland is currently trading at Rs. 25.75, up by 0.50 points or 1.98% from its previous closing of Rs. 25.25 on the BSE.

The scrip opened at Rs. 25.60 and has touched a high and low of Rs. 26.25 and Rs. 25.50 respectively. So far 5,48,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 32.90 on 02-May-2012 and a 52 week low of Rs. 20.05 on 22-Dec-2011.

Last one week high and low of the scrip stood at Rs. 26.25 and Rs. 23.90 respectively. The current market cap of the company is Rs. 6,851.00 crore.

The promoters holding in the company stood at 38.61% while Institutions and Non-Institutions held 30.95% and 17.01% respectively.

Ashok Leyland has bagged an order worth $6 million for 50 Vestibule buses from the Bangladesh Road Transport Corporation (BRTC). The company has bagged order under the Indian line of credit (LoC) scheme offered for the improvement of urban transportation in Bangladesh country. This also marks the company’s first order for such buses from an overseas market.

Last week at Dhaka, an agreement to this effect was signed by the Chairman of BRTC and the company.  Besides, Ashok Leyland has exported more than 9,500 vehicles of different models to Bangladesh through their sole distributor, Ifad Autos.

Last year, the company had bagged the single largest order for 290 double-decker buses worth $23.30 million from the country which was one of the contributing factors in boosting the company’s exports to a new high of 12,852 vehicles reflecting a growth of 25%.

Ashok Leyland is the flagship of the Hinduja Group and a leading manufacturer of commercial vehicles in India.