Ashok Leyland catches speed on acquiring 3.62% stake of HLFL
- 10:35:00 Hrs IST
Ashok Leyland is currently trading at Rs. 37.50, up by 3.05 points or 8.85% from its previous closing of Rs. 34.45 on the BSE.
The scrip opened at Rs. 35.80 and has touched a high and low of Rs. 37.85 and Rs. 33.80 respectively. So far 869410 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 97.70 on 16-Apr-2019 and a 52 week low of Rs. 33.70 on 25-Mar-2020.
Last one week high and low of the scrip stood at Rs. 49.70 and Rs. 33.70 respectively. The current market cap of the company is Rs. 10655.96 crore.
The promoters holding in the company stood at 51.12%, while Institutions and Non-Institutions held 31.62% and 17.26% respectively.
Ashok Leyland 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 (HLFL), a subsidiary of the Company. 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.
Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.