Ashok Leyland signs MOU with South Indian Bank for Dealer Financing

Ashok Leyland Limited has signed an MoU (Memorandum of Understanding) with South Indian Bank for financing dealers under the Bank's dealer finance program. Under this partnership, the Bank will provide competitive dealer finance options to the dealers of Ashok Leyland Limited.

Speaking on the partnership, Mr. Gopal Mahadevan, Director and Chief Financial Officer, Ashok Leyland Limited said, "We are pleased to partner with South Indian Bank. This alliance will offer appropriate inventory financing solutions to our network of dealers. We, Ashok Leyland and South Indian Bank, are committed to provide exceptional customer experiences."

Speaking on the alliance, Ms. Biji S S, Senior General Manager & Group Business Head, South Indian Bank said, "We are extremely happy to partner with Ashok Leyland Limited. Through our varied financial solutions, our goal is to offer convenient and complete financing choices to the dealers. We believe that this partnership will meet the business needs of both organizations and create a strong positive impact."

Shares of Ashok Leyland Limited was last trading in BSE at Rs. 169.35 as compared to the previous close of Rs. 169.70. The total number of shares traded during the day was 1278164 in over 11367 trades.

The stock hit an intraday high of Rs. 170.00 and intraday low of 166.15. The net turnover during the day was Rs. 215406843.00.

Shares of The South Indian Bank Limited was last trading in BSE at Rs. 27.41 as compared to the previous close of Rs. 27.61. The total number of shares traded during the day was 4951410 in over 9725 trades.

The stock hit an intraday high of Rs. 27.89 and intraday low of 26.90. The net turnover during the day was Rs. 135301393.00.

Source : Equity Bulls

Keywords

AshokLeyland INE208A01029 MOU TheSouthIndianBank INE683A01023 DealerFinancing