|Stock Name : Ashok Leyland/Tips Open||Buy : 76.25||Posted Date : Oct 7, 2020|
|Stopless/Horizon : 65||Target : 88.25||Results Achieved (Yes/No) :|
Overview: Ashok Leyland limited is the flagship of the Hinduja group. Ashok Leyland is the 2nd largest manufacturer of commercial vehicles in India, the 3rd largest manufacturer of buses in the world. The company offers a wide range of products like buses, trucks, engines, defence & special vehicles.It is a Large Cap company with a market capital of Rs 22383.40 Crore.
About the company: Ashok Leyland limited was incorporated in 1948 as“Ashok Motors”. The company was set up in collaboration withEngland’s Austin Motor Company for the assembly of Austin cars. In 1950, the company made an agreement with Leyland, UK in which Ashok Motors got sole rights to import, assemble and manufacture Leyland trucks. In 1954, the Government approved the progressive manufacture of Leyland commercial vehicles and in 1955, the company name was changed to Ashok Leyland Ltd with equity participation from Leyland Motors Ltd. Soon, the company started manufacturing commercial vehicles.
In 1987, the overseas holding by Land Rover Leyland International Holdings Limited (LRLIH) was taken over by a joint venture between the Hinduja Groupand Iveco. In 2007, the Hinduja Group also bought outIveco’s stake in Ashok Leyland.
NowAshok Leyland is the flagship of the Hinduja Group, a British-based and Indian originated trans-national conglomerate.The promoter shareholding now stands at 51%.Today, Ashok Leyland is US $ 2.30 billion company with 9 manufacturing plants,seven in India, one in Ras Al Khaimah (UAE) and one at Leeds, United Kingdom.
Subsidiaries:Ashok Leyland has five subsidiaries, namely Albonair GmbH, Global TVS Bus Body Buidlers Limited, Optare, Hinduja Leyland Finance Limited and Hinduja Tech Limited.
Management: Mr. Vipin Sondhi is the Managing Director and Chief Executive Officer and Mr. Dheeraj G. Hinduja chairman of the company.
Shareholding Pattern (As on June 2020):
• Foreign Promoters: 51.12
• Foreign Institutions: 15.51
• NBFC and Mutual Funds : 8.50
• Central Government: 0.08
• Others: 3.63
• General Public: 14.95
• Financial Institutions: 5.40
• GDR: 0.82
Dividend: Ashok Leyland declared an equity dividend of 50.00% amounting to Rs 0.5 per share for the year ending March 2020.
Sales Report:For the quarter ended on 30th of June 2020, Ashok Leyland posted a consolidated saleof Rs 1480.16 Crore, which is down by -70.91 % from last quarter sales of Rs 5088.04 Crore and down -77.28 % from previous year’scorresponding quarter sales of Rs 6514.73 Crore.
If you find any mistake please contact the email@example.com. This article is general in nature. It does not constitute a recommendation to buy and sell any stock, and does not take account of your objectives, or your financial situation. Largecapindia has no position in the stocks mentioned.
Largecapindia aim to bring you long term focused research analysis driven by fundamental thanks you.
For More Info : https://www.largecapindia.com