Ashok Leyland rises on entering into partnership with Cholamandalam Investment and Finance

Ashok Leyland is currently trading at Rs. 150.85, up by 0.75 points or 0.50% from its previous closing of Rs. 150.10 on the BSE.

Ashok Leyland
Ashok Leyland

The scrip opened at Rs. 150.50 and has touched a high and low of Rs. 150.90 and Rs. 150.15 respectively. So far 62138 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 169.40 on 06-Sep-2022 and a 52 week low of Rs. 128.35 on 17-Jun-2022.

Last one week high and low of the scrip stood at Rs. 150.30 and Rs. 144.50 respectively. The current market cap of the company is Rs. 44144.67 crore.

The promoters holding in the company stood at 51.53%, while Institutions and Non-Institutions held 37.09% and 11.38% respectively.

Ashok Leyland has entered into a strategic partnership with Cholamandalam Investment and Finance Company to offer financing to dealers. The alliance between the automotive major and the financial institution aims to provide 130 Ashok Leyland dealerships nationwide with an array of comprehensive inventory funding options to address working capital requirements of dealers.

The sales and marketing teams of Cholamandalam and Ashok Leyland would work together to develop joint marketing and financing programmes for mutually furthering the volumes of business.

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.