ASHOK LEYLAND BAGS ORDER FOR 300 BUSES FROM BANGLADESH
Posted on 18th August 2018 |
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| 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. The delivery of the buses to BRTC would take place within eight months, the Chennai-based commercial vehicle major said in the statement. “Bangladesh is one of our key export markets and this order further strengthens our position. Winning this order in Bangladesh is yet another testimony of our leadership in the country,” Ashok Leyland managing director Vinod K Dasari said. He further said: “Exports have been a strong focus for us to de-risk from cyclicality in Indian market and to globalise our product portfolio. This is a significant win for us and builds on the strong export growth we had last year. Recently, Ashok Leyland’s UK subsidiary Optare PLC bagged an order for supply of 31 units of ‘electric double-decker’ buses from Transport for London. |
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Sensex, Nifty end higher for 2nd session on strong fund inflow, firm rupee
Posted on 17th November 2018 |
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The BSE Sensex on Friday continued its rising streak for the second day to end at near a four-week high of 35,436.33, fuelled by gains in Reliance Industries, Bharti Airtel and other bluechips amid continued foreign fund inflows and strengthening rupee. A higher opening in European shares too influenced sentiments here. |
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India set to buy Seahawk helicopters from US for $2 billion
Posted on 17th November 2018 |
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Washington: India has sought from the US 24 multi-role MH-60 ‘Romeo’ anti-submarine helicopters for its Navy at an estimated cost of $2 billion, according to defence industry sources. The deal is likely to be finalised in a few months. |
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Relief for Hyundai: Supreme Court stays Rs 420-crore fine
Posted on 17th November 2018 |
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The Supreme Court on Friday stayed the Competition Commission of India’s order that imposed over Rs 420-crore penalty on the country’s second-largest car maker Hyundai Motors India for anti-trade practices including lack of standardisation of spare parts and allowing original equipment suppliers (OESs) to sell spare parts in the open market without any restrictions. |
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Analyst Corner: Retain ‘buy’ on Ashok Leyland, target price Rs 135
Posted on 17th November 2018 |
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The EBITDA margin at 10.6% for Q2FY19 missed our/consensus estimates by 60 bps on lower realizations and higher commodity costs. The bigger surprise was resignation of Vinod Dasari with effect from March 31, 2019. Dheeraj Hinduja will take over as the executive Chairman till the Board finds a suitable replacement.We expect FY20 earnings to benefit from a confluence of factors (higher volumes, lower discounts, higher operating leverage) on BS6 pre-buy. |
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GVK Power gets approval to raise Rs 8,000 crore for debt repayment
Posted on 17th November 2018 |
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GVK Power and Infrastructure (GVKPIL) has received the shareholders’ approval to raise up to Rs 8,000 crore. The resolution to raise the funds, by a combination of various options listed on the agenda of the annual general meeting (AGM) held recently, has been passed by the requisite majority, the company said in a BSE filing on Friday. |
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