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Ashok Leyland Ltd bags orders for 2580 Buses from State Transports

Posted On: 2019-01-09 17:21:59

Ashok Leyland, flagship of the Hinduja Group, and India's largest Bus manufacturer, today confirmed that it bagged orders from IRT (Institute of Road Transport, Chennai), UPSRTC (Uttar Pradesh State Roadways Transport Corporation) and CTU (Chandigarh Transport Undertaking) for 2580 buses. These orders, are among the largest from STU's for a single OEM. All these buses can be delivered before March 2019.

Speaking about these orders, Mr. Vinad K.Dasari, Managing Director, Ashok Leyland, said, "We are very happy to receive the confirmation of these orders from State Transport Undertakings. Our ability to bring value, combined with our superior technology and innovation will help us maintain our leadership position in buses in India."

Speaking an the win, Mr. Sanjay Saraswat, Senior Vice President, Global Buses, Ashok Leyland, said. "Our buses are durable, robust and employ the latest in technology. The cost of ownership and the product experience which we can deliver is the best in the industry. Our in-depth understanding of what works for our markets and customers is what differentiates us and has helped us win these orders."

Ashok Leyland is currently the 4th largest manufacturer of buses in the world and India's largest bus manufacturer. These orders would further consolidate its leadership position.

Shares of ASHOK LEYLAND LTD. was last trading in BSE at Rs.94.4 as compared to the previous close of Rs. 93.1. The total number of shares traded during the day was 2156419 in over 7244 trades.

The stock hit an intraday high of Rs. 95.6 and intraday low of 93.55. The net turnover during the day was Rs. 204101200.


Source: Equity Bulls

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