Ashok Leyland Stock Rallies On Passenger Buses Order From MSRTC
The order, awarded by the domestic entity MSRTC, is for the supply of BSVI OBD II Diesel Fuel Type Fully Built Passenger Buses
Ashok Leyland climbed around 2 per cent in the Monday trading session after the automaker secured the single largest fully built bus order from the Maharashtra State Road Transport Corporation (MSRTC) for 2,104 units of Viking passenger buses.
Ashok Leyaland stock traded at Rs 227 with 1.37 per cent gain in the afternoon session on the National Stock Exchange (NSE).
The total consideration for this order is approximately Rs 981.45 crore. The execution period for this contract spans from August 2024 to August 2025.
The order, awarded by the domestic entity MSRTC, is for the supply of BSVI OBD II Diesel Fuel Type Fully Built Passenger Buses. MSRTC, one of India's largest state transport undertakings, operates a fleet of over 15,000 buses.
The buses will be manufactured at Ashok Leyland's exclusive bus body plants using state-of-the-art technology, ensuring enhanced safety, improved comfort, and a lower total cost of ownership for MSRTC.
"We are excited to continue our long-standing partnership with the Maharashtra State Road Transport Corporation (MSRTC). This new order underscores our dedication to producing highly efficient and technologically advanced products, driving the growth of public transportation in the country," said Shenu Agarwal, Managing Director and CEO of Ashok Leyland.
In terms of stock performance, Ashok Leyland stock rallied nearly 25 per cent in the year 2024 so far. However, the benchmark index Nifty Auto delivered 36 per cent returns year-to-date (YTD).
