Ashok Leyland Defence Systems (ALDS), Hinduja Group company has signed a Memorandum of Understanding (MOU) on Cooperation with Russia’s Rosoboronexport (ROE) and ELCOM, on the sidelines of the International Military Technical Forum Army – 2017 held at Kubinka, near Moscow, on August 25, 2017.
Rosoboronexport is the only state organisation in Russia for export of the entire range of military products and technologies, the company said in a BSE filing.
ROE represents Russian companies who are manufacturers of Infantry Fighting Vehicles and Main Battle Tanks, currently working with the Indian Army.
ELCOM Group is emerging as a significant player in strategic electronics, avionics and tactical communication globally.
Meanwhile, shares of the company were trading at Rs 112.50 apiece, down 0.57 per cent from the previous close at 12:55 hours on BSE.
Tag: Ashok Leyland Ltd
This order of 500 fully-built vehicles is driven by the success of the innovative Intelligent Exhaust Gas Recirculation (iEGR) technology which has been developed indigenously by Ashok Leyland, the company said in a filing to the Bombay Stock Exchange.
Developed to achieve the BS-IV emission norms, iEGR technology was launched in April 2017 for engines up to 400HP – a feat no other OEM has achieved globally.
Anuj Kathuria, President – Global Trucks, Ashok Leyland, says Ashok Leyland has been an integral part of Rivigo’s story since the beginning of their journey and this fresh order is a testimonial to the Indian, Intelligent and Innovative offerings of iEGR BS-IV technology, which translates to, ‘No Adblue’, ‘No Electronics’ and ‘Better Mileage’.
Meanwhile, shares of the company were trading at Rs 103.95 apiece, up 0.63 per cent from the previous close at 13:00 hours on BSE.
Sales of its Medium & Heavy Commercial Vehicles (M&HCV) too plunged by 18 per cent at 6,139 units in May 2017, as against 7,469 units in the year-ago period, Ashok Leyland Ltd said in a filing to the Bombay Stock Exchange on June 01, 2017.
However, its Light Commercial Vehicles (LCVs) sales increased by 22 per cent to 2,932 units, as compared to 2,406 units in May 2016.
Meanwhile, shares of the company were trading at Rs 92 apiece, down 2.65 per cent, from previous close on BSE at 13:08 hours.
The company had sold 13,406 units in the same month last year.
Sales of heavy and medium commercial vehicles grew by 4.88 per cent to 11,329 units last month as against 10,801 units in the year-ago period, the company said in a statement.
Light commercial vehicle sales rose by 5.1 per cent to 2,738 units compared to 2,605 in February last year, it added.
Meanwhile, shares of the company were trading at Rs 90.05 apiece, down 0.55 per cent from the previous close at 13:00 hours on BSE.
After the successful launch of Light Commercial Vehicle ‘Dost’ the city based commercial vehicle major launched GURU and the first air-conditioned LCV goods vehicle ‘PARTNER’ at a function, the company said in a filing to the Bombay Stock Exchange.
‘GURU’ has been launched in the price range of Rs 14.35 lakh to 16.72 lakh, including VAT, while ‘PARTNER’ has been priced Rs 10.59 lakh for the six tyre variant and Rs 10.29 lakh for the four tyre variant (all ex-showroom Chennai), Ashok Leyland Ltd Chief Executive Officer and Managing Director Vinod K Dasari said.
“Ashok Leyland has upped the ante over the last few years and that reflects in our results. An integral part of this performance is our winning product portfolio which deliver superior returns to our customers”, he said.
“The two new products in this strategy are GURUand the next generation PARTNER in the ICV and LCV segment respectively”, he told reporters.
With these launches, Ashok Leyland has further strengthened its position in the market and was closer to the vision of emerging as one of the top 10 truck makers globally, he added.
‘GURU’ with different body options will be available in BSIII and BSIV variants in the 12 and 13 tonne categories, while ‘PARTNER’ with a Gross Vehicle Weight of six Tonnes and 7.2 tonnes would address applications like parcel goods, durables and perishables.
Meanwhile, shares of the company closed trading at Rs 86.95 apiece, up 1.34 per cent from the previous close on BSE.
Sales of its heavy & medium commercial vehicles too fell by 9 per cent at 8,782 units in December, 2016, as against 9,703 units in the year-ago period, Ashok Leyland Ltd said in a filing to the Bombay Stock Exchange on January 02, 2017.
Further, its light commercial vehicles sales decreased by 20 per cent at 1,949 units, as compared to 2,451 units in December 2015.
Meanwhile, shares of the company were trading at Rs 80.50 apiece, up 0.50 per cent, from previous close on BSE at 12:41 hours.
In June 2015, the company had posted total sales of 10,429 units, Ashok Leyland Ltd said in a filing to the Bombay Stock Exchange (BSE) on Friday.
Sales of medium and heavy commercial vehicles (M&HCV) climbed by 8 per cent at 8,685 units in June 2016 from 8,016 units in the same month a year ago.
Meanwhile, sales of light commercial vehicles (LCV) remained mostly flat at 2,423 units in June 2016 from 2,413 units in the same month a year ago.
Total sales climbed by 11 per cent to 31,165 units in April-June 2016 from 28,154 units in the same period a year ago.
Further, sales of medium and heavy commercial vehicles (M&HCV) climbed by 12 per cent at 24,027 units in April-June 2016 from 21,453 units in the same period a year ago.
Meanwhile, sales of light commercial vehicles (LCV) climbed by 7 per cent at 7,138 units in April-June 2016 from 6,701 units in the same period a year ago.
Traders cheered the mostly upbeat June sales report of the company as shares of Ashok Leyland jumped by 1.22 per cent at Rs 99.80 apiece on the Bombay Stock Exchange (BSE) at 14:16 PM IST on Friday.