Ashok Leyland gains on establishing new company - Ashok Leyland Defense System

Ashok Leyland is currently trading at Rs. 15.50, up by 0.10 points or 0.65% from its previous closing of Rs. 15.40 on the BSE.

The scrip opened at Rs. 15.50 and has touched a high and low of Rs. 15.75 and Rs. 15.30 respectively. So far 277650 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 28.70 on 03-Dec-2012 and a 52 week low of Rs. 15.25 on 18-Jul-2013.

Last one week high and low of the scrip stood at Rs. 18.60 and Rs. 15.25 respectively. The current market cap of the company is Rs. 4097.44 crore.

The promoters holding in the company stood at 38.61% while Institutions and Non-Institutions held 29.88% and 18.09% respectively.

Ashok Leyland, Hinduja Group Flagship Company has established a new company called Ashok Leyland Defense System to pursue its interest in defense space. It aims to stretch its wings in the defense segment with its super stallion range of vehicles in domestic and overseas markets. Super stallion is 6x6, 8x8 and a typically, stallion is 230 HP, and Super Stallion is 360-400 HP.

The company is the largest private supplier to the armed forces in India with its Ashok Leyland Stallion. They will look to export Super Stallion range of vehicles.