Ashok Leyland aims to expand overseas

Ashok Leyland, which offers a range of trucks and heavy vehicles, is planning to set up more assembly plants overseas. As a part of this plan, it will set up facilities in the Commonwealth of Independent States (CIS) region and African countries to enhance its global business.

The company is investing in a new range of medium and heavy commercial vehicles (M&HCV) and light commercial vehicles (LCVs). This will help the company to reach in the new regions such as the Middle East, South Asian countries and pockets of Africa.

The company is planning to develop a new modular platform on which it will roll out its future medium and heavy products from next year.

Currently, the company is having manufacturing operations across nine countries, including the UAE, Bangladesh, Sri Lanka, Nigeria and the UK.

Recently, the company reported poor March sales numbers. The total number of vehicles sold in March 2019 was 21,535, showing 4 per cent YoY decline. Domestic sales declined by 5 per cent with sales of 20,521 vehicles in March 2019.

Today, the stock opened at Rs. 88.20 and made an intraday high of Rs. 88.85 on the BSE. At 10:31, the stock was trading nearly at Rs. 87.55 on the BSE.