Ashok Leyland promoter pledged 17.82 pc stake

MUMBAI: Commercial vehicle major Ashok Leyland on Tuesday said its promoter has pledged 23.70 crore shares representing 17.82 per cent stake in the company.

In a disclosure to the Bombay Stock Exchange, Ashok Leyland said its sole promoter Hinduja Automotive has pledged 17.82 per cent stake in August 2006. At the end of December quarter, Hinduja Automotive held 38.61 per cent stake in Ashok Leyland.

Shares of Ashok Leyland dropped 1.87 per cent and were trading at Rs 15.25 in the afternoon trade on the BSE.