Ashok Leyland gains after winning order for buses from Senegal

Ashok Leyland rose 1.42% to Rs 71.40 at 14:08 IST on BSE on securing orders worth $82.06 million from a public transport company under the aegis of the Ministry of Transport, Senegal, for building comprehensive and integrated transportation system.

The announcement was made during trading hours today, 23 June 2015.

Meanwhile, the S&P BSE Sensex was up 80.38 points or 0.29% at 27,810.59

On BSE, so far 12.28 lakh shares were traded in the counter, compared with an average volume of 15.43 lakh shares in the past one quarter.

The stock hit high of Rs 72.15 and low of Rs 69.80 so far during the day. The stock hit a record high of Rs 77 on 15 April 2015. The stock hit a 52-week low of Rs 29.05 on 14 July 2014.

The stock had outperformed the market over the past one month till 22 June 2015, rising 1.59% compared with 0.81% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 2.1% as against Sensex's 1.88% fall.

The large-cap commercial vehicle manufacturer has an equity capital of Rs 284.59 crore. Face value per share is Re 1.

Ashok Leyland said that DAKAR DEM DIKK, a public transport organization under the aegis of the Ministry of Transport, Senegal, has commissioned a comprehensive logistics program with the company, that comprises supply of 475 buses, genuine spares, assistance in development of workshops, training and consultancy on fleet management, and structuring of vehicle tracking and monitoring systems.

Vinod K Dasari, Managing Director, Ashok Leyland said that the order builds on the company's momentum in the African region.

Ashok Leyland's net profit fell 36.7% to Rs 229.97 crore on 36.8% growth in total income to Rs 4759.11 crore in Q4 March 2015 over Q4 March 2014.

Ashok Leyland is the second largest manufacturer of commercial vehicles in India, the 4th largest manufacturer of buses in the world and the 16th largest manufacturer of trucks globally.

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