Last Updated : Apr 09, 2019 03:17 PM IST | Source:

Ashok Leyland gains 4% after reports of setting up plants abroad

At 1503 hrs, Ashok Leyland was quoting Rs 91, up 4.36 percent on the BSE.

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Shares of Ashok Leyland surged more than 4 percent intraday on April 9 after it unveiled plans to scale up its global operations by setting up more assembly plants overseas, including in the CIS (Commonwealth of Independent States) region and African countries.

According to a report in Mint, the commercial vehicle major is hopeful that its new range of medium and heavy commercial vehicles (M&HCV) and light commercial vehicles (LCVs) will help it break into new markets, beyond hotbeds such as the Middle East, SAARC countries and pockets in Africa.

The Chennai-based Hinduja flagship has earmarked Rs 1,500 crore capex for various projects including a platform for light commercial vehicles (LCVs).

At 1503 hours, Ashok Leyland was quoting at Rs 91, up 4.36 percent on the BSE.
First Published on Apr 9, 2019 03:17 pm