Ashok Leyland bags orders for 4000 buses; stock rallies

MUMBAI: Shares of Ashok Leyland surged over 6 per cent after the company bagged orders for around 4000 buses from State Transport Undertakings (STUs).

“A total of 22 STUs across the country including Calcutta State Transport Corporation, Bangalore Metropolitan Transport Corporation, Andhra Pradesh Road Transport Corporation, Jaipur City Transport Services and Pune Mahanagar Parivahan Mahamandal have placed large orders,” the company said in a filing to stock exchanges.

According to the company, the receipt of the order under JNNURM-II scheme is worth Rs 1500 crore.

Ashok Leyland will offer a mix of JanBus, midi-buses and ultra low Entry (ULE) buses as a part of the 4000 buses ordered.

“The supply of these buses has started and many of them are already carrying passengers,” the company told.

At 10:50 a.m.; the stock was at Rs 40.75, up 5.57 per cent, on the BSE. It rallied 6.47 per cent to touch intraday high of Rs 41.10.