Ashok Leyland to launch new LCV models; further investment up to Rs 400 crore

Ashok Leyland has been in news lately due to its merger with a loss making group company Hinduja Foundries. The stock is down by almost 28 per cent from its 52 week highs at Rs 112.90 which it made on April 12 , 2016. The stock is trading at Rs 81.25 per share up by Rs 1.20 or 2.01 per cent on Monday at 12 .00 pm.

Ashok Leyland, the flagship company of Hinduja Group announced its plans to introduce eight products in the Light Commercial Vehicles (LCVs) category over the next two-three years that will entail an investment of upto Rs 400 crore. The company will soon go solo after parting away from the JV partner Nissan. The aim is to introduce a full range of the LCVs in coming years. 

Ashok Leyland will introduce eight to ten products over next two to three years. According to Vinod Dasari , Director Ashok Leyland said, “ There will be variants, there will be new models, new platforms”.

The stock has under-performed over one year by generating negative returns of 11.93 per cent. Over one month the stock is down by 8.14 per cent.