After Tata Motors This 2nd Largest Indian Medium & Heavy Commercial Vehicles Manufacturer’s Stock Hits All-Time High; LIC Increases Stake in Q1 FY24!
The Company is the 2nd largest in India for medium and heavy commercial vehicles, 4th largest globally for buses, and 15th largest for trucks.
It is the flagship company of the Hinduja Group and has a long-standing presence in the domestic medium and heavy commercial vehicle (M&HCV) segment. The company boasts a strong brand, a well-diversified distribution and service network across India, and operations in 50 countries. It is one of the most fully integrated manufacturing companies in the industry. Its headquarters is located in Chennai.
The Company is the second-largest manufacturer of medium and heavy commercial vehicles in India, the fourth-largest manufacturer of buses in the world, and the fifteenth-largest manufacturer of trucks globally.
Ashok Leyland Ltd shares are trading at around Rs 246.85 per share. The company’s current market capitalization stands at Rs 72,485 crore. The stock has delivered a return of over 35 per cent in the past 1 year. Today's trading volumes on the BSE saw a significant surge, increasing by over 2.5 times, and the stock reached a 52-week high.
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As per the Quarterly Results, in Q1FY25, Ashok Leyland Ltd recorded a revenue of Rs 10724 crore. The operating profit for Q1FY25 stood at Rs 1868 crore. The net profit for Q1FY25 was Rs 551 crore. Looking at the annual performance, the company generated a revenue of Rs 45791 crore in FY24. The operating profit for FY24 was Rs 7943 crore with a net profit of Rs 2696 crore.
According to the shareholding pattern, promoters own 51.52 per cent, and public investors own 12.24 per cent. FIIs and DIIs own a 22.03 per cent & 14.12 per cent stake in the company. LIC Increased its stake from 1.41 per cent to 2.03 per cent in Q1 FY25.
Investors must keep this Large-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.