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Ashok Leyland receives an order for 1400 ICVs from Procure Box

Posted On: 2020-09-17 00:41:01


Ashok Leyland, the flagship company of the Hinduja Group and India's leading commercial vehicle manufacturer, received a large order from a logistics start-up company, Procure Box. The company has placed an order of 1400 intermediate commercial vehicles [ICVs] for its fuel distribution business across 750 districts, in the country. The order encompasses the most successful Ashok Leyland product - the Ecomet and will be executed in the next 5-6 months.

Mr. Anuj Kathuria, Chief Operating Officer, Ashok Leyland, said, "This order from Procure Box is a testimony to Ashok Leyland's commitment to reliability and quality. Over the last few years, Ashok Leyland has made significant efforts to increase its market share in the ICV segment and our efforts have given rich dividends. With this order, our orderbook for ICVs has enhanced significantly and is a testament to the reliability, durability and robustness of our vehicles. We have once again demonstrated in BS-VI era, that our customers have utmost faith in the brand to deliver vehicles of superior performance with our iGen6 technology, along with reliability, driver comfort and best in class features. We remain dedicated to provide efficient, clean, safe, accessible, and an affordable value proposition to our customers."

Mr. Raman Kandhari, Founder and Chief Executive Officer, Procure Box, said, "At Procure Box, it's very important to us to demonstrate our commitment to our customer with action of on time delivery, which is why we have tied up with the best product in the industry from Ashok Leyland. This order is a testimony of our commitment to offer the best services and thus create value for our customers."

With the addition of 1400 new Ashok Leyland ICVs, the logistics start-up and its associates will become the top fuel bowsing and Gas cylinder logistics company in the industry.

Shares of ASHOK LEYLAND LTD. was last trading in BSE at Rs.78.85 as compared to the previous close of Rs. 77.85. The total number of shares traded during the day was 2399191 in over 7174 trades.

The stock hit an intraday high of Rs. 80.4 and intraday low of 76.55. The net turnover during the day was Rs. 189247546.


Source: Equity Bulls

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