Daimler India is taking on rivals Tata Motors and Ashok Leyland with its BS-VI line of vehicles
The companies have inked a memorandum of understanding (MoU) regarding the partnership
The company's total sales dropped to 5,321 units in November 2019, from 8,260 units a year earlier
Ashok Leyland is currently India's largest and the world's fourth largest bus manufacturer
It sold 3,336 units of M&HCV trucks in August as compared to 11,135 units, a year ago.
The stock of the commercial vehicle company was trading at its lowest level since February 10, 2015, when it had touched Rs 56 per share in the intra-day trade.
Lack of demand due to illiquid market and weak consumption appetite led to steep fall in auto-sales
Eicher Motors, Tata Motors, TVS Motor Company, Hero MotoCorp and M&M were up 1% on the NSE.