 "This stake purchase from the promoters does raise questions on dilution in tight discipline on capital allocation practiced since FY14, analysts at Motilal Oswal Securities said in a note.")
Shares of Ashok Leyland were under pressure for the second straight day on Friday, plunging 15 per cent to hit an over five-year low of Rs 41.10, on the BSE, after the company announced acquisition of around 19 per cent stake in its subsidiary Hinduja Leyland Finance (HLFL). The stock has tanked 36 per cent in the past two trading days, and was quoting at its lowest level since September 2014.
Ashok Leyland on Wednesday announced that it would acquire around 7 per cent stake from the existing private equity investor Everstone and around 12 per cent from promoter owned
