Ashok Leyland bags export order from BRTC

Ashok Leyland has announced that it has bagged an order from Bangladesh Road Transport Corporation (BRTC) for supplying 300 Ashok Leyland buses. The order consists of Double Decker buses which would help decongest roads of Dhaka.

The said procurement is against a tender under Indian Line of Credit. The order will be executed in eight months. Bangladesh is one of the key export markets of the company. These exports aid the company in de-risking from the cyclicality of the Indian market and help globalise its product portfolio.

Also, on Thursday, the company unveiled Innoline, its latest innovation for commercial vehicles. It has combined some indigenous innovations to introduce the inline pump for BS4 engines which is first of its kind in India. This inline pump is preferred by the drivers and the service mechanics.

On Friday, the stock opened at Rs. 126.10 per share and surged by 2.5 per cent to Rs. 129.25. Over the last one month, the stock price dipped from Rs. 132 level to Rs. 105 level. However, it has recovered in the last two weeks.