Ashok Leyland soars post stake hike in Optare Plc
DSIJ Intelligence / 27 Nov 2017
The stock of Ashok Leyland spiked up by more than 3 per cent during the morning trading session on Monday.
The stock of Ashok Leyland spiked up by more than 3 per cent during the morning trading session on Monday.
Meanwhile, at 12:00 hours S&P BSE Auto was trading almost flat at 25317.14 point, up 0.04 per cent. Ashok Leyland was trading at Rs. 122.35 per share, higher by 3.34 per cent. The stock has been gaining for the last three trading days.
The company informed the bourses that its stake in the UK-based Optare Plc increases to 98.31 per cent from the earlier 75.11 per cent, post the conversion of loan into equity.
Ashok Leyland's M&HCV sales for the month of October 2017 was at 9,110 units, compared to 9,575 unit in October 2016, which is down 5 per cent. On the other hand, LCV sales for October 2017 was 3,804 units, compared to 2,959 units in October 2016, which is up 29 per cent.
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