Ashok Leyland nears 52-week high on winning $200 million contract

The stock hit an intra-day high of Rs 97.50, and is nearing its 52-week high of Rs 99.50 touched on BSE on August 18

Ashok Leyland is trading higher by 3% at Rs 96.75 on the BSE after the company said it has won a contract for 3600 vehicles worth $200 million from the government of Cote D'Ivoire, a west African country formerly known as Ivory Coast.

The contract is being funded by Exim Bank of India and is pending for final clearance from respective governments, said the company. The order includes supply of trucks and buses, which will be delivered in the next 12 months, Ashok Leyland said in a filing.

The stock hit an intra-day high of Rs 97.50, is near to its 52-week high of Rs 99.50 touched on BSE on August 18 this year. A combined 3.89 million shares changed hands on the counter on the BSE and NSE till 09:30 AM.