Ashok Leyland rises after winning order

Ashok Leyland rose 0.34% to Rs 132.55 at 10:13 IST on BSE after the company said it won a tender for defence tracked combat vehicle.

The announcement was made during trading hours today, 24 August 2018.

Meanwhile, the S&P BSE Sensex was up 28.66 points, or 0.07% to 38,365.42.

On the BSE, 4.22 lakh shares were traded in the counter so far compared with average daily volumes of 12.41 lakh shares in the past two weeks. The stock had hit a high of Rs 133.30 and a low of Rs 132.10 so far during the day. The stock hit a record high of Rs 167.50 on 8 May 2018. The stock hit a 52-week low of Rs 102.20 on 24 August 2017.

Ashok Leyland, flagship of the Hinduja Group and the largest supplier of wheeled military vehicles to Indian Army, announced a tender win in the tracked vehicle space. This tender is for developmental work and marks Ashok Leyland's foray into tracked vehicle business. As per the scope of work, the company will collaborate with Combat Vehicles Research and Development Establishment (CVRDE), Chennai for manufacture, assembly and testing of light weight clutch for the design and development of weight optimized 1500-horse power (HP) automatic transmission for main battle tanks.

Ashok Leyland's net profit rose 232.7% to Rs 370.10 crore on 46.79% rise in net sales to Rs 6250.13 crore in Q1 June 2018 over Q1 June 2017.

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

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