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Ashok Leyland partners with Axis Bank

Posted On: 2019-11-27 16:59:55

Ashok Leyland, flagship of the Hinduja Group, the second largest commercial vehicle manufacturers in India, ready with the complete range of BS6 vehicles, today signed a Memorandum of Understanding (MoU), with Axis Bank to enter into a strategic financing partnership for two years. The MoU will enable both Ashok Leyland and Axis Bank to offer customized financial solutions to the customers based across India, including semi-urban and rural regions.

Commenting on the partnership, Mr. Anuj Kathuria, Chief Operating Officer, Ashok Leyland, said, "Ashok Leyland is delighted to partner with Axis Bank to offer customized financial solutions to its customers. With a Pan-India presence, both organizations can leverage their strengths for the mutual benefit of the customers. Ashok Leyland products come with differentiated technology that offer our customers best-in-class total cost of ownership, thereby providing profitability to their business. Ashok Leyland has embraced future-ready technology to offer digital platforms and services that are ahead of the curve, thereby living by its brand promise of 'Aapki Jeet. Hamari Jeet'."

Speaking on the partnership, Mr. Jagdeep Mallareddy, President and Head Retail Lending, Axis Bank Limited, said, "As a part of our consistent endeavor to offer holistic solutions to customers, Axis Bank has collaborated with Ashok Leyland, one of India's leading commercial vehicle manufacturer. This collaboration will enable us to offer customized financial solutions by leveraging the Bank's extensive physical and digital reach across India, including semi-urban and rural regions."

Shares of ASHOK LEYLAND LTD. was last trading in BSE at Rs.81.8 as compared to the previous close of Rs. 80.75. The total number of shares traded during the day was 1960244 in over 6645 trades.

The stock hit an intraday high of Rs. 83.4 and intraday low of 80.8. The net turnover during the day was Rs. 160998242.

Shares of AXIS BANK LTD. was last trading in BSE at Rs.749.9 as compared to the previous close of Rs. 752.25. The total number of shares traded during the day was 641014 in over 5451 trades.

The stock hit an intraday high of Rs. 763.95 and intraday low of 749. The net turnover during the day was Rs. 486442523.


Source: Equity Bulls

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