Ashok Leyland share price hits 52-week high on merger update; details here

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Shares of commercial vehicle leader Ashok Leyland were trading higher on the bourses on Thursday, November 27, after the company announced that its board had approved a merger scheme. The company's stock price rose 5 per cent to record a fresh 52-week high of ₹156.40 per share on the NSE during intraday trading.

 

The stock has rebounded nearly 63 per cent from its 52-week low of ₹95.93 per share, touched earlier this year on April 7 on the NSE.

 

The counter continues to see strong demand from investors. At 09:57 AM, Ashok Leyland stock was quoted at ₹155.88, up 4.65 per cent from the previous close of ₹148.95 on the NSE. Meanwhile, the benchmark NSE Nifty50 was trading near its peak at 26,272.70, up 67.40 points, or 0.26 per cent.

 

So far during the day, a combined total of 21 million equity shares of Ashok Leyland, valued at ₹323.13 crore, changed hands on the NSE and BSE. As of November 27, the company's market capitalisation stood at ₹91,138.73 crore on the NSE.  CATCH STOCK MARKET LIVE UPDATES TODAY

Ashok Leyland board approves merger scheme

Ashok Leyland’s board has approved the scheme of merger of Hinduja Leyland Finance Limited (HLFL) into NDL Ventures Limited (formerly known as NXTDIGITAL Limited), subject to regulatory and shareholder approvals.

 

"The scheme is subject to the receipt of approvals from the Securities and Exchange Board of India (SEBI), the National Company Law Tribunal, BSE Limited, and the National Stock Exchange of India Limited (since the equity shares of the Transferee Company are listed on both stock exchanges) (collectively, the "Stock Exchanges"), as well as other statutory and regulatory authorities, and the respective shareholders and creditors, under applicable law," the company said in an exchange filing on the BSE.

 

For the merger of Hinduja Leyland Finance Limited into NDL Ventures Limited, the share exchange ratio has been set such that 25 fully paid-up equity shares of ₹10 each in NDL Ventures Limited will be issued and allotted for every 10 equity shares of ₹10 each held in Hinduja Leyland Finance Limited. 

As per the scheme, the appointed date for the merger by absorption of Hinduja Leyland Finance Limited into NDL Ventures Limited shall be April 1, 2026, or such other date as may be directed or approved by the National Company Law Tribunal or any other appropriate authority, the company said.