Ashok Leyland Ltd invests in TVS Trucks and Buses Pvt Ltd

Ashok Leyland Ltd has invested a sum of Rs. 24.95 Cr. in TVS Trucks and Buses Private Limited (TVS Trucks) by way of Equity shares. Consequent to the allotment by the Board of Directors of TVS Trucks today, the Company's shareholding in TVS Trucks is 49.9%, by virtue of which, TVS Trucks has become an associate company.

TVS Trucks is a joint venture between the Company and TVS Mobility Private Limited with TVS Mobility holding 50.1% and the Company holding the balance shareholding of 49.9%.

Shares of Ashok Leyland Limited was last trading in BSE at Rs. 174.00 as compared to the previous close of Rs. 173.05. The total number of shares traded during the day was 1465907 in over 15192 trades.

The stock hit an intraday high of Rs. 174.50 and intraday low of 171.90. The net turnover during the day was Rs. 254572071.00.

Source : Equity Bulls

Keywords

AshokLeyland INE208A01029 Investment TVSTrucksandBuses JV