550 per cent returns: This large-cap multibagger stock bags largest order worth Rs 981.45 crore for 2104 buses!
Shares of the company gained more than 30 per cent in the last six months.
Ashok Leyland has secured the largest single order for fully built buses. Maharashtra State Road Transport Corporation (MSRTC), one of India's largest state transport bodies, has placed an order for 2,104 Viking passenger buses valued at approximately Rs 981.45 crore. This win strengthens Ashok Leyland's dominance in the bus segment, with their buses soon becoming the mainstay of MSRTC's fleet.
These modern buses will be BSVI compliant, ensuring eco-friendly operation. The company will also feature the latest safety technologies and a comfortable design for passengers. Ashok Leyland's proven iGEN6 technology with a 197 HP engine and rear air suspension promises better fuel efficiency and a smoother ride. Manufactured at their state-of-the-art bus body plants, these buses are designed to provide MSRTC with a lower total cost of ownership. This significant order execution will take place between August 2024 and August 2025.
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Ashok Leyland is the flagship company of the Hinduja group, having a long-standing presence in the domestic medium and heavy commercial vehicle (M&HCV) segment. The company has a strong brand and well-diversified distribution and service network across the country and has a presence in 50 countries, it is one of the most fully-integrated manufacturing companies. The stock has delivered multibagger returns of over 550 per cent in the last ten years and more than 180 per cent in the last five years.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.