Ashok Leyland moves north after large order for buses

Ashok Leyland was up 1.47% to Rs 148 at 12:08 IST on BSE after the company said it has bagged an order from The Institute of Road Transport, Tamil Nadu for supply of 2,100 buses.

The announcement was made during market hours today, 21 March 2018.

Meanwhile, the S&P BSE Sensex was up 231.38 points or 0.7% at 33,228.14.

On the BSE, 3.80 lakh shares were traded on the counter so far as against the average daily volumes of 12.95 lakh shares in the past one quarter. The stock had hit a high of Rs 148.65 and a low of Rs 146.40 so far during the day. The stock had hit a record high of Rs 151.55 on 15 March 2018 and a 52-week low of Rs 81 on 19 April 2017.

The large-cap company has equity capital of Rs 292.71 crore. Face value per share is Rs 1.

Ashok Leyland bagged an order from The Institute of Road Transport, Tamil Nadu for supply of 2,000 passenger chassis and 100 of fully built small buses to various state transport undertakings (STUs) in Tamil Nadu. The order size is about Rs 321 crore. This order is scheduled to be supplied during the first half of 2018-19.

Ashok Leyland's net profit surged 178.1% to Rs 449.71 crore on 57.5% growth in net sales to Rs 7113.16 crore in Q3 December 2017 over Q3 December 2016.

Ashok Leyland is one of the leading manufacturers of medium and heavy commercial vehicles in India.

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