Page 9 - Ashok Leyland

Ashok Leyland to acquire OHM India as part of EV plan, to invest Rs 300 cr

Hinduja group flagship firm Ashok Leyland on Monday said it will fully acquire OHM Global Mobility Pvt Ltd from OHM International Mobility Ltd and will invest Rs 300 crore into the acquired entity. OHM Global Mobility Pvt Ltd (OHM India) is a wholly-owned subsidiary of OHM International Mobility Ltd UK (OHM UK) and the promoter, Hinduja Automotive Ltd, directly holds 20 per cent and indirectly through other subsidiaries holds 43.23 per cent in OHM UK, Ashok Leyland said in a regulatory filing. The acquisition is a part of the company's EV strategy to engage in the business of eMaaS (e-Mobility as a Service). This would likely result in enhancing the operational efficiency and synergy, it added. OHM India is envisaged to operate in transportation, logistics operation and management and eMaaS. "The company also proposes to infuse fresh equity or preference capital of up to Rs 300 crore in one or more tranches into OHM India for its business requirements," Ashok Leyland said. OHM Ind

REC, Supreme stocks surge on MSCI Global Standard Indexes inclusion

The other inclusions - IDFC First Bank, PFC, Ashok Leyland, Cummins India, Astral and HDFC AMC - were on the expected lines. ACC was the only exclusion

MSCI Global Standard Index review: PFC, REC among 8 entrants; ACC excluded

According to a Nuvama Alternative and Quantitative Research, PFC and HDFC AMC are likely to see inflows of $203 million and $153 million, respectively

Ashok Leyland July sales: Total sales up 11% YoY, bus sales up 56%

Year-to-date domestic sales for the ongoing financial year stood at 53,314 units which was up 7% from 49,839 units during the same period last year

Ashok Leyland embarks on cross-country expedition marking 75th anniversary

Commercial vehicle manufacturer Ashok Leyland has embarked on a 'Dream Drive' expedition that would cover cities and dealerships across the country marking its 75th anniversary celebrations, the company said on Monday. As many as 10 vehicles would be traversing across cities including Bengaluru, Mumbai, Leh, Kolkata, Dibrugarh, on five different routes commemorating the occasion. The Hinduja Group company is headquartered in Chennai. "As we embark on the 'Dream Drive' to mark the 75th year anniversary celebrations of Ashok Leyland, we reflect upon the journey that has run parallel to the development of our nation," company executive chairman Dheeraj Hinduja, who flagged off the event on Sunday, said in a company statement. "The 'Dream Drive' represents our renewed pledge to further shape the future of the CV industry to support India's economic development for years to come," he added.

Sensex drops 888pts, Nifty below 19,750; Infy sinks 8%, HUL, RIL up to 3.5%

Closing Bell on July 21, 2023: The benchmarks snapped their 6-day winning run. Among sectoral indices, the Nifty IT index shed 4 per cent, followed by the Nifty FMCG index (down 1 per cent)

Ashok Leyland Q1 net up 25x to Rs 584 cr; plans Rs 800 cr capex in FY24

Better show propelled by 20-fold surge in sales volume across segments, one-time deferred tax credit of Rs 172 crore

Ashok Leyland Q1FY24 results: Net profit jumps 747%, revenue up 13%

The Ebitda margin in Q1FY24 expanded by 560 basis points to 10% from 4.4% YoY

Indian truckmakers eye electric as one of the ways to tackle pollution

15 companies including Amazon.com Inc., Nestle SA and India's Aditya Birla Group joined forces to advance the electrification of the nation's truck fleet

Defence order wins, market share gains positive for Ashok Leyland

Muted sequential Q1 performance may cap near-term upsides

Stocks to watch: IndusInd Bank, Ashok Leyland, Patanjali Foods, Ircon, IOC

Stocks to watch on July 18, 2023: From Ashok Leyland to Tata Elxsi, check out the top stocks to watch in Tuesday's trading session

Ashok Leyland bags major orders worth Rs 800 crore from Indian Army

Ashok Leyland vehicles, especially the 7.5 tonne Stallion, have formed the backbone of the army's logistics supply chain since the Kargil conflict in 1999

Ashok Leyland bags orders worth Rs 800 cr to supply defence vehicles

Company will deliver to the Indian Army field artillery tractor and gun-towing vehicle

Ashok Leyland June total sales up 5% at 15,221 units, CV sales jump 10%

Commercial vehicles maker Ashok Leyland on Monday reported a 5 per cent rise in total vehicle sales in June at 15,221 units. In the year-ago period, total vehicle sales of the company stood at 14,531 units. Total domestic sales were higher by 7 per cent at 14,363 units as against 13,469 units a year ago, the company said in a statement. Domestic medium and heavy commercial vehicle sales were at 9,274 units as compared to 8,399 units in June last year, a growth of 10 per cent, it added. Sales of light commercial vehicles in the domestic market marginally increased to 5,089 units from 5,070 units in June 2022, the company said.

Expect commercial vehicle industry to grow by 8-10%: Ashok Leyand

Ashok Leyland expects the domestic commercial vehicle industry to grow by 8-10 per cent this fiscal aided by record government spending on infrastructure projects and strong replacement demand emanating from core industries. In his address to shareholders in the company's Annual Report for 2022-23, Ashok Leyland Chairman Dheeraj G Hinduja said the commercial vehicle sales this fiscal were expected to exceed the previous peak attained in 2018-19. He noted that the Chennai-based commercial vehicle maker is fully prepared to take advantage of the anticipated opportunities without compromising on market share and profitability targets. "Moving on, it is reasonably expected that in FY24, the demand is expected to exceed pre-COVID levels of 2018-19," he noted. Government infrastructure spending, strong replacement demand and healthy traction from core industries like steel, cement and mining are expected to drive growth, Hinduja said. The company remains optimistic about its ability to b

Ashok Leyland hits record high in subdued market; rallies 8% in two days

The company said it has partnered with 'Aidrivers' for producing autonomous electric terminal trucks to address the Net Zero emissions needs of the port industry

Steady outlook, margin expansion put Ashok Leyland in the fast lane

But some brokerages are cautious, saying M&HCV upcycle may be near its peak

Heavy volumes lift Ashok Leyland 6%; investors pin hopes on better margins

The management expects margins to remain in double digits in FY24E on the back of pricing discipline, softening in commodity prices, and operating leverage gains

Ashok Leyland, Aidrivers to make autonomous truck model for port operations

Companies says first such electric platform in country will help port industry in zero emission

Ashok Leyland seeks pre-pandemic sales volume in FY24 with new launches

Company expects 'highest peak' in sales as MHCV industry grows, says a senior executive