Ashok Leyland slips as promoter pledges shares

Ashok Leyland fell 2.77% to Rs 209 following the news of additional pledge of 10.21% by the promoters.

The Hinduja Group has pledged around 30 crore shares of Ashok Leyland, the group's flaship company in India. The pledge was created through Hinduja Automotive, a UK-based holding company and a key part of the Hinduja Group, which serves as the primary vehicle through which the Hinduja family holds its stake in Ashok Leyland.

As of 31 December 2024, promoters held 51.10% stake in Ashok Leyland. Hinduja Automotive held 34.72%.

As of 31 December 2024, the promoter had pledged 15.38% of its stake. On 26 March 2025, the company created an additional pledge of 10.21%, taking the total pledge to 25.59%.

Ashok Leyland is engaged in the manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings, and castings.

The companys consolidated net profit surged 36% to Rs 761.92 crore while revenue from operations rose 8.2% to Rs 11,946.15 crore in Q3 December 2024 over Q3 December 2023.

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