Automobile Manufacturing Company Ashok Leyland allots 80.7 million equity shares to Equity Shareholders of Hinduja Foundries
DSIJ Intelligence / 14 Jun 2017
Indian automobile manufacturing company Ashok Leyland, on Tuesday announced that under the scheme of ambulation of Hinduja Foundries with Ashok Leyland
Indian automobile manufacturing company Ashok Leyland, on Tuesday announced that under the scheme of ambulation of Hinduja Foundries with Ashok Leyland, the company has allotted 806,58,292 equity share of face value Rs 1 each, fully paid-up to the equity share holder of Hinduja Foundries as on June 7, 2017.
Ashok Leyland Limited is engaged in commercial vehicles and related components. Through its subsidiaries, it is engaged in manufacturing and trading in medium and heavy commercial vehicle, passenger vehicles,light commercial vehicles, automotive aggregates, vehicle financing and engineering design services.
The paid-up share capital of the company has gone up to Rs 292.65 crore after the said allotment.
Deliveringa negative return of 9% in a period of one year on the NSE, the stock has also underperformed the BSE Sensex and BSE Auto indices over the same time span.
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