Ashok Leyland share price up 2% after company bags order for 1,750 buses

Shares of Ashok Leyland gained over two percent intraday on November after the company bagged an order for 1,750 buses from Tamil Nadu State Transport Undertakings.

This order comes closely on the back of orders received from various state transport undertakings recently, the company said in a filing to exchanges.

"We are very happy to receive the confirmation of this order from TN STU. Our ability to bring value, combined with our superior technology and innovation will help us maintain our leadership position in buses in lndia," Anuj Kathuria, its COO, said.

The CV major on November 25 has tied up with ICICI Bank for vehicle loans for a period of two years. The company has inked a Memorandum of Understanding (MoU) with lClCl Bank to enter into a strategic financing partnership for two years, the Hinduja group flagship said in a regulatory filing.

The agreement will enable both partners to offer customised financial solutions to customers across the country with focus on semi-urban and rural geographies, it added.

At 10:50 hours, the counter was quoting Rs 82.95, up Rs 2.72, or 2.2 percent. It has touched an intraday high of Rs 83.40 and an intraday low of Rs 80.80.