Ashok Leyland's UK arm Optare has stregthened its leadership team by roping in former Volvo senior executive Alastair Munro.

Munro joins Optare as director, engineering. He has over 30 years experience in engineering design and product development in the bus, coach and commercial vehicle industry.

Ashok Leyland has dipped 4% at Rs 69 on the NSE after reported a standalone net profit at Rs 230 crore for the fourth quarter ended March 2015 (Q4). The commercial vehicle firm had profit of Rs 363 crore for the same period of the previous financial year, which includes one-time gain of Rs 376 crore on account of sale of long-term investments and immovable properties.

Operating profit however jumped by nearly three-fold at Rs 457 crore in March 2015 quarter against Rs 178 crore in a year ago quarter.

Hinduja Group flagship company Ashok Leyland has reported a 43 per cent growth in sales during the month of April.

Total sales stood at 8,435 units in the month, compared to 5,897 units a year ago.

Ashok Leyland has reported a 43% growth in sales during April 2015.

Total sales stood at 8,435 units in April 2015, as compared to 5,897 units a year ago.

Ashok Leyland's UK arm Optare has decided to delist from the Alternative Investment Market (AIM).

The company said there are significant costs associated with maintaining a quotation on AIM, which can be used for product support.

Ashok Leyland (UAE) LLC (ALUAE) has bought 49 per cent equity in Avia Ashok Leyland Motors s.r.o, a Czech Republic subsidiary, as part of the latter selling its non-core assets.

According to a clarification provided by the company to Bombay Stock Exchange, “the buyer is Ashok Leyland (UAE) LLC (ALUAE), a company incorporated under the laws of Ras Al Khaimah, United Arab Emirates, in which Ashok Leyland holds 49 per cent of the equity.”

Hinduja Automotive Ltd, promoter of commercial vehicle major Ashok Leyland, has reduced its encumbered shares from 16.66 per cent of its total shareholding of 50.38 per cent, to 4.93 per cent, releasing over 330 million shares from HSBC.

According to a filing with the exchanges, the promoter firm has released 26,40,00,000 equity shares from HSBC on February 19, 2015, which accounts to 9.28 per cent of the total share capital. The encumbered shares before the release was 16.66 per cent of the total share capital. The post-event encumbered shares were 7.38 per cent of the total share capital.

Chennai-based Rajalakshmi group, which runs engineering and technology colleges, has acquired a majority stake in Ashok Leyland's renewable energy arm.

Speaking to Business Standard, Abhay S Meganathan, managing director, Rajalakshmi Automobiles, said the group has bought 75% stake in Ashok Leyland Wind Energy, which was previously owned by Ashok Leyland and Hinduja Foundries Ltd.

Hinduja Group flagship company Ashok Leyland today reported a 24% increase in total sales at 12,754 units for March 2015, as against 10,281 units in the same month last year.

Sales for its heavy and medium commercial vehicles increased by 29.91% at 10,027 units in March as against 7,718 units in the year-ago period, the company said in a filing to the BSE.

Hinduja Group flagship company Ashok Leyland today reported a 36% jump in total sales at 10,762 units for February, 2015, as against 7,915 units in the same month last year.

Sales for its heavy and medium commercial vehicles increased by 48% at 8,230 units in February as against 5,576 units in the year-ago period, the company said in a filing to the BSE.

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