Ashok Leyland bags order from logistics startup to supply 1,400 trucks

The flagship company of Hinduja Group, Ashok Leyland, announced on Thursday that it has received a large order from a logistics start-up company, Procure Box. The order is for 1,400 intermediate commercial vehicles (ICVs) for its fuel distribution business across 750 districts in the country.

The order encompasses the most successful Ashok Leyland product, Ecomet, and will be executed in the next 5-6 months, the company stated in a press release to BSE.

Speaking on the order win, Anuj Kathuria, Chief Operating Officer of Ashok Leyland stated that over the last few years, the company has made significant efforts to increase its market share in the ICV segment. He further stated that Ashok Leyland’s order book for ICVs has enhanced significantly and it was a testament to the reliability, durability, and robustness of its vehicles.

Ashok Leyland Limited is engaged in commercial vehicles and related components. Through its subsidiaries, it is engaged in manufacturing and trading in medium and heavy commercial vehicles, light commercial vehicles, passenger vehicles, automotive aggregates, vehicle financing, and engineering design services.

At 1 pm on Thursday, the stock of Ashok Leyland was trading at Rs 77.75 per share, down by 1.40 per cent or Rs 1.10 per share on BSE, against a 0.57 per cent decline in the benchmark index. The 52-week high is recorded at Rs 87.50 and the 52-week low is Rs 33.70 on BSE.