Ashok Leyland acquires LCV business from Nissan Motor Corporation

India Infoline News Service | Mumbai | November 27, 2016 14:08 IST

Consequent to the acquisition of NML's stake in the joint venture companies, all the three joint venture companies have become wholly owned subsidiaries of the Company.

Ashok Leyland
Ashok Leyland Ltd has now informed BSE that the Company have acquired all the shares held by Nissan Motor Co. Ltd., (NML) in the joint venture companies, Viz., Ashok Leyland Nissan-Vehicles Limited, Nissan-Ashok Leyland Powertrain Limited and Nissan-Ashok Leyland Technologies Limited formed between the Company and NML.

Consequent to the acquisition of NML's stake in the joint venture companies, all the three joint venture companies have become wholly owned subsidiaries of the Company.

Stock Commentary:

Ashok Leyland Ltd ended at Rs 77.05, up by Rs 1.2 or 1.58% from its previous closing of Rs 75.85 on the BSE.

The scrip opened at Rs 76.05 and touched a high and low of Rs 77.7 and Rs 75.7 respectively. A total of 10851324(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 21927.48 crore.

The BSE group 'A' stock of face value Rs 1 touched a 52 week high of Rs 112.8 on 13-Apr-2016 and a 52 week low of Rs 73.6 on 22-Nov-2016. Last one week high and low of the scrip stood at Rs 80.5 and Rs 73.6 respectively.

The promoters holding in the company stood at 50.38 % while Institutions and Non-Institutions held 18.7 % and 30.92 % respectively.

The stock traded below its 200 DMA.

***Note: This is a NSE Chart

 

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