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Ashok Leyland shares fall 26%, touch a fresh 52-week low of Rs 47.25

A month later, now, the company announced that it would invest Rs 1,200 crore to buy stake in HFL

Ashok Leyland | IPO | Hinduja Group

T E Narasimhan  |  Chennai 

Ashok Leyland undertakes cost cutting measures to save Rs 500 crore
While the company tried for an Initial Public Offer (IPO) twice, the market was not conducive and it did not made sense to conduct the IPO just for the sake of an IPO | File photo

touched a fresh 52-week low of Rs 47.25, falling 26.03 percent intra-day on Thursday. This came a day after the company board approved the firm’s plan to acquire up to 19 percent additional equity shares in Hinduja Leyland Finance, an NBFC, from the existing shareholders in tranches. The total consideration is around Rs 1,200 crore.



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First Published: Thu, March 19 2020. 22:03 IST