Ashok Leyland

Nissan may partner with Ashok Leyland for global small car

Nissan may partner with Ashok Leyland for global small carJapanese automaker Nissan is in talks with Hinduja Group's flagship company Ashok Leyland for developing a small car for the global market expected to be priced in the $4500-5000 range.

Notably, Nissan is also a partner in the development of an ultra low cost car with Bajaj Auto and Renault. However, the company believes that the project is yet to reach a suitable solution to produce such a cheap car.

Ashok Leyland betting big bucks on the bus segment

Ashok-Leyland-LtdHuge Demand for buses business is expected because of the the central government's Jawaharlal Nehru National Urban Renewal Mission (JNNRUM) scheme. The demands of the customer would be changing and states would again be keen on providing across the country, a seamless mobility.

Ashok Leyland’s JV, Asley Alteams launched

Ashok-Leyland-LogoAshok Leyland and a Finnish company have launched a joint venture named Ashley Alteams. The 50:50 JV came to life in Cheyyar, near Kanchipuram in Tamil Nadu.

The Finnish company is a light cast metal component maker and the JV will be producing aluminium high pressure die cast components.

The clientele of Ashley Alteams will include big names like Nokia Siemens Network, Knorr Bremse and Cummins and Ericsson. It would also supply parts to Ashok Leyland.

Ashok Leyland's stock gains 4% after company reports higher sales

Ashok Leyland's stock gains 4% after company reports higher salesThe shares of India's second largest commercial vehicle maker, Ashok Leyland gained 4% to Rs 54.20 at 9:15 IST after the company announced that its sold 7,871 units in January 2010 a rise of 222% over January 2009.

The company made the announcement after market hours on Wednesday 3 February. Its shares touched a high of Rs 54.40 and a low of Rs 52.35 so far during the day even as the benchmark BSE Sensex dropped 70 points, or
0.41%, to 16426.. Yesterday the share closed 3.57% or Rs 1.80 up at Rs 52.15.

Ashok Leyland profit jumps 450%

Ashok LeylandThe markets are all set for Ashok Leyland which has seen a 450% rise in its net profit for the quarter ending December 31. The profits have surged from merely Rs. 18.9 crore for the corresponding period in the last financial year to reach Rs 104.6 crore this year.

Sales revenues have risen from Rs 1,004.49 crore for the same period last year to reach Rs 1,815.53 crore this year, registering 81% increase. The production has increased from 19,411 vehicles compared to the last year figure of 6,060, increase of 220%.

India first hybrid bus revealed by Ashok Leyland

Ashok LeylandIndia’s second largest commercial vehicle maker, Ashok Leyland Ltd today showcased its new Hybus, which is the country’s first electric plug-in CNG hybrid bus at the 2010 Auto Expo in Delhi.

R. Seshasayee, managing director said at the launch of the Hybus, “We expect the government to provide financial support to make commercial production viable. The government must bring down duty on lithium ion batteries.” The duty on lithium ion batteries is at 18% currently.

Volvo launches gas-powered bus

Volvo launches gas-powered busNew Delhi, Jan 5 : Swedish auto major Volvo Tuesday launched a new bus powered by compressed natural gas (CNG) for the Indian market to take on rivals like Tata Motors and Ashok Leyland.

"This CNG variant is being built at our plant near Bangalore. It has six seats more than other luxury buses on the Indian roads," said Volvo Bus India managing director Akash Passey at the Auto Expo here.

Ashok Leyland sales jump 103 percent

AshokLeylandNew Delhi, Dec 2 : Commercial vehicle manufacturer Ashok Leyland Wednesday reported a two-fold jump in its November sales.

The auto giant sold 4,695 units last month, up 103.5 percent from 2,307 units it sold in November last year.

Sales during April-November, however, fell to 32,018 units from 41,336 units sold in the like period last year, the company said in a statement.(IANS)

Ashok Leyland Ltd Long Term Buy Call: Abhishek Jain,

Ashok LeylandAshok Leyland Ltd was incorporated on 7th September 1948 at Chennai. In 1948, company was set up for the assembly of Austin Cars. British Leyland and Ashok Leyland commenced manufacture of commercial vehicles in 1955. In 1987, the overseas holding by Land Rover Leyland International Holdings Limited (LRLIH) was taken over by a joint venture between the Hinduja Group, the Non-Resident Indian transnational group and IVECO. (Since July 2006, the Hinduja Group is 100% holder of LRLIH).

Buy Ashok Leyland With Stoploss Of Rs 43: Karvy

Ashok LeylandKarvy Stock Broking Limited has maintained 'Buy' rating on Ashok Leyland Ltd stock to achieve a target of Rs 47 in 1-2 trading sessions.

According to Karvy, interested traders can buy the stock between Rs 44-45 with a strict stop loss of Rs 43.

The shares of the company on Monday, (Nov 02), closed at Rs 45.45 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 47.50 and a low of Rs 12.45 on BSE.

Current EPS and P/E of the stock stood at 1.27 & 37.48 respectively.

Ashok Leyland half-yearly net falls 18 percent

Ashok Leyland half-yearly net falls 18 percent Chennai, Oct 30 : Commercial vehicle manufacturer Ashok Leyland Friday said its profits in the first half this fiscal fell 18 percent to Rs. 96 crore, as compared to Rs. 117 crore earned in the corresponding period last fiscal.

In the period under review, the company posted sales of Rs. 2,490 crore, a fall of 34 percent from the Rs. 3,758 crore it made in the first six months of the last financial year.    

Ashok Leyland Sept sales decline 11.86%

Ashok Leyland Sept sales decline 11.86%Ashok Leyland, leading Hinduja Group's flagship company has recorded 11.86% dip in its total commercial vehicles (CV) sales in September at 5,452 units as compared to 6,186 units in the same month last fiscal.

Company's domestic commercial vehicle sales stood at 4,813 units as compared to 5,454 units in the same month previous year, down 11.75 per cent.

Exports were stood at 639 units, as against 732 units in the same month last year, down 12.70 per cent, it added.

Ashok Leyland Pantnagar plant to go on-stream within months

Ashok Leyland Pantnagar plant to go on-stream within monthsAshok Leyland, India's leading commercial vehicle manufacturing conglomerate has announced that its Rs 1,300-crore Pantnagar (Uttarakhand) facility is likely into operation within the coming few months.

The sources informed that 50,000 units of commercial vehicles per annum will be the installed capacity of company's Pantnagar plant. Besides, the company is also searching options to enhance its Alwar plant capacity by 50% this year.

The company did not specify a time-frame for the startup of the plant.

Ashok Leyland to begin supply of buses to DTC soon

Ashok Leyland to begin supply of buses to DTC soonAshok Leyland, leading commercial vehicle maker, has informed that it will soon commence delivery of the first 50 ultra low entry (ULE) buses to the Delhi Transport Corporation (DTC).

The sources informed that this is a part of company's Rs 1,190 crore contract in which it will provide 875 buses this fiscal.

Ashok Leyland functionaries stated in a communiqué that the conglomerate has decided to supply 5,000 buses to various state as well as local transport bodies under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) in fiscal 2009-10.

Ashok Leyland inks pact with Vijaya Bank

Ashok LeylandAshok Leyland, leading Chennai based commercial vehicle manufacturing company has announced that it has signed a Memorandum of Understanding with Vijaya Bank.

 As per terms of the MoU, Vijaya Bank will fund Ashok Leyland's end-customers.

The sources informed that that through this process, Ashok Leyland's relationship with Vijaya Bank gets further beefed up.

The sources further informed that Vijaya Bank, already active in the auto and SME space, becomes a preferred financier for commercial vehicles of Ashok Leyland.

Ashok Leyland to roll out four new outlets in Punjab

Ashok Leyland to roll out four new outlets in PunjabChennai-headquartered Ashok Leyland has decided to open three more outlets in Punjab including, one in Chandigarh in the current fiscal to expand its network. 
The proposed outlets would be open at Ludhiana, Moga, Chandigarh and Bathinda, by this fiscal. At present, the company has outlets at eight locations in the state.

Apart from latest development, the company today inaugurated its new outlet, spread over 10,000 square feet, at Patiala.    

Ashok Leyland forms JV with US-based John Deere

Ashok Leyland forms JV with US-based John Deere

The country's second largest truck make Ashok Leyland on Monday has notified that it has completed the formation of a joint venture with the US-based agriculture equipment maker John Deere for manufacturing and marketing construction equipment.

According to an official release, the joint venture will initially manufacture backhoes and wheel loaders and will market these in India and abroad. The range will subsequently be expanded to include a full line of construction equipment.

Ashok Leyland inks MoU with Union Bank of India; Stock climbs 5%

Ashok Leyland inks MoU with Union Bank of India; Stock climbs 5%Hinduja Group-promoted Ashok Leyland, India's second-largest maker of trucks and buses, has entered into a Memorandum of Understanding (MoU) with Union Bank of India (UBI), to extend retail finance facility to Ashok Leyland's commercial vehicle customers as well as for their dealers' inventories.

Under the arrangement, the bank will offer loans to Ashok Leyland's customers and dealers at 100 basis points lower than its PLR (Prime Lending Rate) as against their PLR for other commercial vehicles.

Central Bank of India ties-up with Ashok Leyland

AshokCentral Bank of India has informed that it has entered into an agreement with Ashok Leyland, to provide loans for commercial vehicles.

Under the facility, Central Bank of India will provide loans for Ashok Leyland's customers at 100 basis points below its benchmark prime lending rate till March 31, 2010. The bank's current BPLR is 12 per cent.

The latest move is considered as a part of bank's strategy to increase its retail loans portfolio to 15 per cent of its total assets, from the current 9 per cent.

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