Ashok Leyland Ltd has acquired 1,70,17,995 shares of Rs.10/- each, constituting 3.62% of the paid-up equity share capital of Hinduja Leyland Finance Limited ("HLFL"), a subsidiary of the Company at a price of Rs.119/- per equity share.
HLFL is an RBI registered Non-Banking Finance Company. HLFL's Revenue as on March 31, 2019 was at Rs.2560.64 Crores.
Consequent to the aforesaid acquisition, the Company's shareholding in HLFL stands increased from 61.83% to 65.45%. The aforesaid acquisition is part of the 6.99% acquisition approved by the Board at the meeting held on March 21, 2020.
Shares of ASHOK LEYLAND LTD. was last trading in BSE at Rs.35.65 as compared to the previous close of Rs. 36. The total number of shares traded during the day was 2136761 in over 7840 trades.
The stock hit an intraday high of Rs. 43 and intraday low of 35.15. The net turnover during the day was Rs. 81126287.