Ashok Leyland has bagged an order to supply Tracked Vehicle space for the Indian armed forces. The tender is meant for developmental work and marks Ashok Leyland's foray into tracked vehicle business.

As per the scope of the work, the company will collaborate with Combat Vehicles Research and Development Establishment (CVRDE), Chennai for the manufacturing, assembly and testing of lightweight clutch for the design and development of weight optimised 1500hp Automatic Transmission for Main Battle Tanks.

Hinduja flagship firm Ashok Leyland on Friday said it had bagged an order from Bangladesh Road Transport Corporation (BRTC) for supply of 300 buses.

The order is for double decker buses which have been procured against a tender under Indian Line of Credit, the company said in a statement.

Ashok Leyland has won an order of 300 double-decker buses from Bangladesh Road Transport Corporation (BRTC).

Leyland has to deliver the order within eight months.

Vinod K. Dasari, Managing Director of Ashok Leyland, said Bangladesh is one of the key export markets and this order further strengthens the company's position.

Ashok Leyland total sales up 27 per cent at 15,199 Units in July 2018 from 11,981 units, a year ago.

The M&HCV sales up 22 per cent to 10,996 Units from 9,026 Units, while Light Commercial Vehicle Sales rose by 42 per cent to 4,203 units from 2,955 units.

Shares of Ashok Leyland on Wednesday slumped nearly 14% as analysts expressed concerns over demand uncertainty and high competition after the government brought in new axle norms for load carrying capacity.

The stock plunged 13.93% to settle at Rs 110.60 on BSE. During the day, it tanked 14.90% to Rs 109.35.

Riding on a favourable base effect, Ashok Leyland (ALL) on Tuesday beat analysts estimates by posting a 233% year-on-year growth in its net profit at Rs 370 crore during the April-June quarter.

This is the company’s highest quarterly growth in over two years. During the period, the company’s revenue increased 47% to Rs 6,250 crore, which was below estimates.

Hinduja Group flagship company Ashok Leyland is gearing up to expand its light commercial vehicle business, international operations and defence mobility segment, according to company Chairman Dheeraj G Hinduja.

For the electric vehicle (EV) segment, Ashok Leyland is also looking to tap the proven success of its Optare bus range in the United Kingdom, for other locations as well.

Ashok Leyland's LCV business, originally floated as a joint venture with Japanese automajor Nissan and later bought over by the Indian partner, has turned around during the financial year ended March 2018.

Ashok Leyland Vehicles Limited, formerly known as Ashok Leyland Nissan Vehicles Ltd, has reported a profit of Rs 1.34 billion in FY18 as against a loss of Rs 24.9 million the previous financial year.

Hinduja group flagship Ashok Leyland has decided to merge its light commercial vehicle subsidiaries such as Ashok Leyland Vehicles, Ashley Powertrain and Ashok Leyland Technologies, with itself, subject to necessary regulatory and other approvals, including from the National Company Law Tribunal’s (NCLT) Chennai branch.

Shares of Ashok Leyland have declined nearly 10% to Rs 133.75, extending their 4% fall on the BSE on Friday, on concerns of truck volume growth in current fiscal on account of a partial overloading ban relaxation in Uttar Pradesh (UP) from last month.

In the past two weeks, Ashok Leyland has underperformed the market by falling over 18% as compared to 1.2% decline in the S&P BSE Sensex. The stock hit a record high of Rs 168 on May 8, 2018 in intra-day trade.

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