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13-Dec2017

Ashok Leyland catches speed on planning to invest Rs 400 crore to develop new products

Ashok Leyland is currently trading at Rs. 114.50, up by 0.65 points or 0.57% from its previous closing of Rs. 113.85 on the BSE.

The scrip opened at Rs. 113.65 and has touched a high and low of Rs. 114.90 and Rs. 112.60 respectively. So far 322473 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 133.00 on 26-Oct-2017 and a 52 week low of Rs. 75.10 on 27-Dec-2016.

Last one week high and low of the scrip stood at Rs. 120.75 and Rs. 112.65 respectively. The current market cap of the company is Rs. 33427.53 crore.

The promoters holding in the company stood at 51.29%, while institutions and non-institutions held 33.94% and 14.77% respectively.

Ashok Leyland is planning to invest Rs 400 crore over the next two years in developing new products, including left-hand-driving trucks. The company is working on left-hand-driving commercial vehicles to tap the potential export markets in Gulf countries and Africa.

The new products are also targeted for export markets. Currently, the company exports five per cent of its total volumes. The vehicles are primarily exported to Russia and Ukraine.

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.


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