Ashok Leyland up 4% on pact with Hino Motors to develop BS-VI engines

Ashok Leyland was trading 4% higher at Rs 124 on the BSE in noon deal after the company and Hino Motors Ltd. Japan have entered into a Mutual Cooperation Agreement (MCA) for Euro VI Engines.

“As per agreement, Ashok Leyland will utilise Hino's engine technology for Ashok Leyland's EURO-VI development and will support in development of Hino's engine parts purchasing in India for global operation,” the company said in a press release.

Hino and Ashok Leyland have had a cooperative agreement for engine production in India since 1986. By this mutual cooperation agreement, both companies will leverage each