This leading automobile company bags a large order from VRL Logistics; do you hold it?
In the past one year the company has given a 9.33% return.
About the order
On 17th April 2023, Ashok Leyland received an order of 1560 trucks from VRL Logistics (VRL), which is one of the largest logistics companies in India. This order is for AVTR 3120 and AVTR 4420 TT models of Ashok Leyland. These trucks have all the advanced features to bring more efficiency and profitability to VRL’s expanding fleet.
The trucks will come fitted with the latest in features and technology. These advanced features and technologies will help VRL to have reduced maintenance time, fewer stop-overs, and higher efficiency resulting in better uptime and increased profitability.
Share price moment
Ashok Leyland is currently trading at Rs 139.40, up by 1.20 points or 0.87% from its previous closing of Rs 138.20 on the BSE.
The scrip opened at Rs 138.30 and touched a high and low of Rs 139.95 and Rs 138.30 respectively. So far 2,24,140 shares were traded on the counter.
The BSE group 'A' stock of face value of Rs 1 has touched a 52-week high of Rs 169.40 and a 52-week low of Rs 113. The current market cap of the company is Rs 40,944.29 crore.
The promoters holding in the company stood at 51.53%, while Foreign Institutions and Domestic Institutions held 15.29% and 21.16% respectively.
Company profile
Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components, the third-largest manufacturer of buses in the world, and the 10th-largest manufacturer of trucks.
It launched India’s first electric bus and Euro 6-compliant truck in 2016. With the largest fleet of logistics vehicles deployed in the Indian Army and significant partnerships with armed forces across the globe, the company helps keep borders secure. It has ISO/TS 16949 Corporate Certification and is also the first CV manufacturer in India to receive the OBD-II (on-board diagnostic) certification for BS IV-compliant commercial vehicle engines, SCR (selective catalytic reduction), iEGR (intelligent exhaust gas recirculation) and CNG technologies.
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