Ashok Leyland plans multiple units abroad
DSIJ Intelligence / 14 Sep 2016
Even as Indian markets get fiercely competitive, truck and bus manufacturer Ashok Leyland is reported to be preparing to build multiple satellite plants in Africa, Asian and Latin American markets.
Even as Indian markets get fiercely competitive, truck and bus manufacturer Ashok Leyland is reported to be preparing to build multiple satellite plants in Africa, Asian and Latin American markets.
The emerging markets have shown demand for economical trucks and buses which are 15 to 20 per cent cheaper than their western counterparts. Currently the company has assembly plants in Kenya and Bangladesh.
Currently Ashok Leyland derives 10 per cent of its revenues from exports to these countries. With renewed international expansion strategy Ashok Leyland aims to derive a minimum of one-third of the revenues to come from outside of India in the near future.
The stock is trading at Rs 84.40 per share on Wednesday at 12 a.m, up by 1.20 per cent or Rs 1 per share on an intraday basis. The 52 w high for the stock is Rs 112.90 and the 52 w low for the stock is Rs 77.70.
The stock has underperformed markets over a 1 year time frame. Over 1 year the stock has delivered negative 5.53 per cent returns.
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