Ashok Leyland nears 52-week high on winning $200 million contract
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Ashok Leyland is trading higher by 3% at Rs 96.75 on the BSE after the company said it has won a contract for 3600 vehicles worth $200 million from the government of Cote D'Ivoire, a west African country formerly known as Ivory Coast.
The contract is being funded by Exim Bank of India and is pending for final clearance from respective governments, said the company. The order includes supply of trucks and buses, which will be delivered in the next 12 months, Ashok Leyland said in a filing.
The stock hit an intra-day high of Rs 97.50, is near to its 52-week high of Rs 99.50 touched on BSE on August 18 this year. A combined 3.89 million shares changed hands on the counter on the BSE and NSE till 09:30 AM.
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India's Muthoot Finance is planning to raise funds through US dollar-denominated bonds maturing in three years and nine months and has provided initial guidance for a coupon of around 7.375 per cent, two bankers said on Tuesday.
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Odisha Chief Minister Naveen Patnaik on Monday alleged that his opponents remember the people of the state only during elections and have no sincerity towards them.
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Tech giant Microsoft Corporation recently acquired 48 acres of land in Hyderabad in a transaction estimated to be worth around Rs 267 crore.
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Shares of Shakti Pumps (SPIL) locked in the upper circuit for the fifth straight day, up 5 per cent at Rs 2,585.85 per share on the BSE in Monday's intraday deals. This came after the company reported a robust March quarter (Q4FY24) earnings and strong order book. In comparison, the S&P BSE Midcap and Smallcap index were down by 1 per cent.
The stock of the company is trading at its record high level and has rallied 28 per cent in past one week. Moreover, in the past 33 trading days, the stock has more than doubled or zoomed 104 per cent from Rs 1,121 on March 14, 2024.
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